SMSGupShup Raises $12mn From Globespan Capital Partner, CRV and Helion

SMSGupshup has closed funding for a $12 million (Series D) round led by Globespan Capital Partners and additional financing from existing investors Charles River Ventures and Helion Venture Partners.

SMS GupShup now serves 26 million users in over 2 million sms communities and claims to grow userbase by 100% just in the last 6 months – company claims to account for 5% of all SMS traffic in India.

SMSgupshup earlier raised $11mn in July 2008 and also partnered with Facebook for it’s sms service in India.

Last year, company (Webaroo) closed down other products and decided to focus on smsgupshup – the core money making unit being selling bulk sms.

To date, SMS GupShup has raised $37million in funding and the current funding will be used for global expansion.

Recommended Read: The hype and fall of SMS ads – Substitutes and Alternatives

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