Kris Gopalakrishnan-backed start-up Verloop.io raises $5 million

Series-A round led by Alpha Wave Incubation; existing investors IDFC Parampara and Gopalakrishnan among other participants

Customer support automation platform Verloop.io has raised $5 million as part of a Series A round led by Alpha Wave Incubation along with existing investors IDFC Parampara and Kris Gopalakrishnan.

The Bengaluru-based company had previously raised $3 million in 2018 in seed funding from IDFC Parampara Fund, Gopalakrishnan and Ranjan Pai, the chairman of the Manipal Education and Medical Group.

The fresh fund would be used to hire talent and build further traction for its business across West Asia, Southeast Asia, and the United States.

“With rapidly changing consumer behaviors, brands are now looking to enhance their customer support experience. We are excited to back Verloop.io and believe their offering is well tied with increasing demand for solutions that enable brands to supercharge their support teams and drive growth” said Navroz D Udwadia, Co-Founder and Partner of Falcon Edge Capital.

The company enables businesses to automate customer support across channels and has over 5,000 clients such as Decathlon, Cleartrip, Livpure, Adani Capital, DSP Mutual Fund, and Rentomojo.