Conversation firm Nextiva on Thursday said it has bought Bengaluru-based social media analytics startup Simplify360 for an undisclosed amount.
Arizona-based Nextiva said in a statement that Simplify360’s acquisition will open its door to the Asia-Pacific market as the Goldman Sachs Asset Management-backed company looks for expansion to support more businesses across the globe.
“The acquisition of Simplify360 accelerates our companies’ shared mission by adding social media, reputation management, live chat and helpdesk customer relationship management (CRM) to Nextiva’s offerings,” said Tomas Gorny, co-founder and chief executive officer at Nextiva.
“Joining forces with Nextiva is an ideal fit for Simplify360 as we share a vision to make amazing customer experiences available to every business,” said Rohit Gupta, co-founder and chief executive at Simplify360.
Founded in 2006, Nextiva is a platform focused on simplifying business communications, team collaboration and customer engagement. It powers billions of conversations every year across cloud business phone systems, text and team messaging, video meetings and more. The company was valued at $2.7 billion after its last funding round in 2021, said a statement.
Customer experience platform Simplify360 uses AI and automation to enable over 5,000 global businesses to seamlessly deliver world class customer support across multiple channels, including email, live chat, social media, online reviews and e-commerce. Some of its customers include Amazon, Honda, HP, Nestle, HDFC, Hyundai, Canon and Xiaomi.
For the past couple of years, several Indian deeptech startups are getting acquired by larger global companies to gain access to niche technologies and quality talent, indicating a strong demand for startups focusing on disruptive technologies that can solve complex global problems.
Deeptech startups refer to those whose business model is based on high tech innovation in engineering or significant scientific advances.
In September 2022, blockchain-based data exchange platform VeriSmart announced the acquisition of Delhi-based conversational AI (artificial intelligence) startup DolphinChat (formerly known as CivilCops) for an undisclosed sum.
In August last year, Singapore-based e-commerce solution provider Graas (growth-as-a-service) made its maiden foray into India with the acquisition of artificial intelligence-backed direct-to-consumer (D2C) platform Shoptimize for over Rs 200 crore in a cash-and-equity deal, a top executive told VCCircle.
In September 2021, US-based cloud video surveillance firm Eagle Eye Networks acquired Bengaluru-based AI startup Uncanny Vision to strengthen its capabilities in providing AI and analytics.
Another company KPIT Technologies Ltd announced the signing of a definitive agreement to acquire a controlling stake in Bengaluru-based PathPartner Technology for about Rs 191 crore.
