Indian mobile social network business GupShup raises $12 million

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FUND RAISING 
Database Reference:  F231109-324
 
Business:  GupShup
Web:  http://www.smsgupshup.com
Location:  India, Mumbai
Region:  Asia
Business description:  Mobile group SMS service that allows users to create mobile communities and broadcast messages to them. Launched in April 2007, SMS GupShup now serves 26 million users in over 2 million sms communities – double the number of communities supported just six months ago.
Category: Mobile, Social Network
Contact 1:  Beerud Sheth, Co-Founder and Chief Executive Officer   
Contact 2:  Rakesh Mathur, Co-Founder and Chairman of the Board
  
Investors:  Led by Globespan Capital Partners and additional financing from existing investors Charles River Ventures and Helion Venture Partners
  
Amount raised:  $12,000,000
  
Details:  SMS GupShup have closed funding for a $12 million round. To date, SMS GupShup has raised $37million in funding and is  hiring globally. In  the past two months the company has increased its team head count from 100 to 130 and looks to fill another 20 positions in marketing, engineering and advertising sales. As part of this funding round, Venky Ganesan, Managing Director of Globespan Capital Partners, will join the SMS GupShup Board of Directors, which is currently comprised of Devdutt Yellurkar (Charles River Ventures), Ashish Gupta (Helion Venture Partners), Jeff Hussey (Founder of F5 Networks, Inc.), Rakesh Mathur (Co-founder and Chairman of the Board), Beerud Sheth (Chief Executive of Webaroo/Co-founder of SMS GupShup).

Link:  Press Release

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