GupShup, India’s premier social network and group messaging service, raised an additional $10 million from investors including Tenaya Capital, Globespan Capital Partners, Helion Ventures and Charles River Ventures, bringing the company’s aggregate funding to $47 million. VCs Brian Paul, managing director with Tenaya, and Venky Ganesan, MD with Globespan, worked on the deal.
Santa Clara, CA / Mumbai, India August 31, 2011
SMS GupShup, Indias largest social network and group messaging provider, announces today that they have raised $10 million in funding. The company will use the funds to drive product innovation, increase sales and marketing, and expand globally. Tenaya Capital joins existing investors Globespan Capital Partners, Helion Ventures and Charles River Ventures in the Series E round, taking the companys total fund raise to $47 million.
SMS GupShup has cemented itself as the dominant social network in India, demonstrating that the company truly understands the Indian consumer and their needs. We are also very excited about the company’s opportunity to leverage its innovative product offerings to expand beyond India into other high growth emerging markets, states Brian Paul, Managing Director at Tenaya Capital.
SMS GupShups ambitious vision has enabled them to build a massive user base, assemble a world-class team and emerge as a star in the social media universe, Venky Ganesan, managing director of Globespan Capital, added.