AI-Based CRM platform Yalochat set to enter the Indian market in a big way

By : |March 11, 2019 0
Secures funding from Silicon-valley based CRM specialized investors Sierra Ventures, plans for rapid growth across the country; operations setup and hiring in full swing

Yalochat, one of the fastest growing AI-driven CRM focused B2B companies in the world, is all set to grow its operations in India. Offering the most comprehensive artificial intelligence platform that allows companies to manage the entire relationship with their customers through popular chat platforms such as WhatsApp, Yalochat recently concluded its Series A funding round. Along with a number of investors, the round was led by Sierra Ventures, a San Francisco based private venture capital fund based in Silicon Valley which specializes in the Customer Relationship Management (CRM) market. The participation from Sierra Ventures brought total company funding to USD 8 Million, based on the investors’ assessment of its growth potential to become a worldwide industry leader.

After WhatsApp recently announced that it will be offering its WhatsApp Enterprise Solution via third-parties, Yalochat was the first to allow companies to easily interact with their customers on top of WhatsApp. With Yalochat’s AI based platform, companies no longer need to build apps as they can offer the same services via WhatsApp.

The Series A funding from Sierra Ventures will boost Yalochat’s plans for rapid expansion across India, both in terms of its operations and talent. This global company has already secured several iconic enterprises as customers, including PepsiCo, Walmart and Amazon along with established corporate houses and in India and Latin America. In India, Yalochat has currently offices in Mumbai, and aims to expand further to other cities over the course of 2019. It currently has a number of customers making use of its services, such as Kerala Government, RBL Bank, Edelweiss Tokio, and PayU. The company will also be engaging in a hiring spree for each of its operational domains across locations, having already made key hires including ex-PayPal Director of Engineering, Kyle Passarelli as CTO of the company.

Commenting on the funding and the company’s plans for expansion Javier Mata, Founder and CEO, Yalochat said, “At Yalochat, we have constantly aimed to give companies ease-of-access and use related to CRM through our AI based platform. While our product and services have earned the recognition of global enterprises, our WhatsApp native solution will significantly bolster the prospects of introducing our chat-based CRM solutions to a lot more organizations. The funding from our US-based investors, especially Sierra Ventures with their experience in the field, is testament to the faith they have in Yalochat as a great product for the present and future. We are thrilled that they have chosen to back us in our mission to implement new technology that reimagines the daily functioning of companies around the globe. With our expansion to India, we have already been successful in securing several large customers in the country. We are confident we will be able to aid all their customer-related needs effectively, and aim to gain this trust from enterprises all over India through the course of our expansion.”

Speaking on the investment, Mark Fernandes, Managing Director, Sierra Ventures said, “People today are increasingly using messaging platforms for several hours a day for their daily interactions. We believe that this presents an opportunity for companies to engage with their consumers via the very same platforms globally. This is where Yalochat’s AI driven platform fits the bill perfectly and has immense growth potential, especially in emerging markets such as India and Latin America. Having entered the Indian market, Yalochat has proven that its product is filling this gap, with the several large customers it already has on board. With what we know so far from our experience in Silicon Valley, we are sure Yalochat will lead the way in the near future, and are happy to be a part of this technological change of guard in CRM with them.”

Yalochat’s platform enables companies to carry out end-to-end relationship management with their respective customers. The seamless experience is made possible through its cutting-edge AI technology being implemented in sending notifications, making payments, and getting product recommendations across major social platforms such as WhatsApp, Facebook Messenger and WeChat. Having secured its Series A funding, the company is looking at huge growth in the Indian market in 2019.

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