Hiver Raises $4 Mn Debt From Mars Growth Capital
The funds raised will help Hiver double the revenue by accelerating marketing and sales efforts
San Jose and Bengaluru-based Gmail-based customer service solution Hiver on Friday announced it has raised $4 million in debt financing from Singapore-based debt fund Mars Growth Capital.
Built for Google Workspace (Formerly G Suite) users, the platform helps teams collaborate on customer service emails right from Gmail. It offers powerful functionalities like email assignment, tracking, automation, analytics, SLAs, and business hours right out of the box.
"Last year, we shifted our focus from the shared inbox market to the highly-competitive customer service helpdesk market, and we have seen an overwhelmingly positive response. We see a huge business opportunity with Hiver, in simplifying customer service for businesses by bringing it back to Gmail," said Niraj Ranjan, chief executive officer, and co-founder, Hiver.
"With this funding, we will aggressively expand on our sales and marketing efforts to grow our customer base and double revenues in 2021 and 2022," added Ranjan.
Its frictionless and natural way for teams to handle customer email communication as it works right inside Gmail. It helps teams collaborate better and make sure all queries are answered on time by the right people, said the statement.
"Mars Growth Capital has a unique artificial intelligence (AI) platform that supports growth debt for APAC e-commerce and software-as-a-software (SaaS) startups," shared investment director Ryutaro Edward Hiroshima. "Hiver is a growing company that perfectly fits our AI model."
More than 1,500 companies from over 30 countries use the platform to manage customer communication, including industry leaders such as Vacasa, Upwork, AppsFlyer, Flexport, Harvard University, and Kiwi.com.