AI-based CRM platform Yalochat secures $8 M from Sierra Ventures, expands India ops
Yalochat, a San Francisco-based artificial intelligence-driven customer relationship management (CRM) platform has its sights set on India. The company has recently raised $8 million in its Series A round of funding led by Silicon Valley-based Sierra Ventures.
According to a press statement, these funds will be used for Yalochat’s expansion of its operation and team across India. At present, Yalochat has offices in Mumbai, and aims to expand to other cities over the course of this year. It currently has Kerala government, RBL Bank, Edelweiss Tokio, and PayU using its platform. The company will also be hiring for each of its operational domains across locations, and has already made key hires including Kyle Passarelli, ex-PayPal Director of Engineering, as CTO of the company.
In a statement, Yalochat Founder and CEO Javier Mata said,
“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 re-imagines 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.”
Yalochat offers an AI-driven platform that allows companies to carry out end-to-end relationship management with their respective customers through popular chat platforms such as WhatsApp. The company’s rich clientele include PepsiCo, Walmart, and Amazon, along with established corporate houses in India and Latin America.
“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,” said Mark Fernandes, Managing Director, Sierra Ventures.