18 May 2023, Bengaluru, India
Himanshu Gupta and Hridayesh Gupta founded QuickReply.ai in 2021, with its headquarters in Gurgaon. After launching their business during the epidemic, the partners noticed that many businesses were moving their services online. By concentrating on boosting customer lifetime value, QuickReply.ai offers automated customer-personalized messaging to assist D2C businesses in surviving online.
Himanshu, the chief executive officer and co-founder of the business, explained that the platform gathers information about user behavior on the website, prior involvement, and financial activity and uses it to find chances to re-engage a specific customer.
He said to Entrackr, “In a nutshell, QuickReply.ai tries to streamline the messaging in a very personalized contextualized way so that companies can communicate on a one-to-one basis with every buyer and try to give them what they’re looking for at the right time with the right sort of an offer.”
WhatsApp is a clear choice for businesses to communicate with clients, but there are some drawbacks as well, such as the sea of messages, offers, and advertisements that consumers are inundated with. In a platform this crowded, it can be difficult to stand out and get customers’ attention.
In order to segment its consumer base into smaller cohorts and deliver communications that are tailored to each group, QuickReply.ai gathers demographic information.
The platform customizes the messages by including user names, things viewed, and suitable offers to complete the transaction. To avoid acquiring new clients, the platform primarily aids brands in keeping their current clientele.
Currently, it works with more than 280 brands, of which 75% are from India, and 25% are located outside the Middle East, Southeast Asia, and Europe. These companies are billed based on a usage-based approach as well as a set monthly subscription fee.
Leo Capital, Pentathlon Ventures, GSF, and notable angel investors, including Deepak Diwakar (co-founder of MindTickle), Azhar Iqubal (co-founder and CEO of Inshorts), and Dinesh Agarwal (founder and CEO of IndiaMART) helped QuickReply.ai raise a seed round of $1.2 million last month.
The company claims to have expanded its revenue 14X in the previous 18 months without providing any financial information. By the end of the current fiscal year, it hopes to have 500 brands as clients, adding about 15 to 20 new brands each month.
The fact that there are around 15 million corporate WhatsApp app users in India demonstrates the enormous business potential that is still untapped. WhatsApp offers UPI payments in addition to peer-to-peer messaging, or in this case, business-to-consumer messaging. Governments and several brands have recently used WhatsApp for marketing and communications.
Brands have greatly benefited from WhatsApp’s Business API. In comparison to traditional digital marketing, it has a remarkable average open rate of 90%. In addition, services like WATI have established a solid foundation that can be used as a model by more recent firms building comparable WhatsApp-based consumer interaction systems. WATI has secured over $31.3 million in finance, which is important to note. Tiger Global and Sequoia Capital India are only a couple of the investors behind it.
[Source: entrackr.com]
