US-based global private equity firm Warburg Pincus has invested $100 million in a series A round in the Brazilian startup Take Blip, a communication platform that helps companies engage with clients via messaging apps such as WhatsApp and Facebook Messenger.
The company plans to use the proceeds to expand its operations to the US, Europe and Mexico, besides investing in its current business and eyeing M&A opportunities.
Founded in 1999, Take Blip expects to post revenues of $40 million in 2020.
“Ultimately this is a huge market. In the near future, every single company will have to be part of the conversational internet just as they had to launch a website in the near past,” Piero Minardi, head of Warburg Pincus in Latin America, said.
Take Blip Tcurrently serves more than 750 clients, including several Brazilian industry leaders such as Claro, Itaú Unibanco, Coca-Cola, Localiza, Fiat, TruckPad and others, Warburg Pincus said.
Through Take Blip, customers can discover, engage and transact with brands and businesses in conversational channels with better user experience and lower costs.
“Customer service is one of the main challenges faced by companies, regardless of their size. The use of automation and software integration is extremely powerful to upgrade the customer journey. Our platform offers an easy way to deliver a high level of service and personalized interactions at a low cost”, according to Daniel Costa, Take Blip’s Chairman and CHRO.
“Take Blip is at the center of two extremely relevant shifts in this digital era. The first is that the internet has become conversational. People want to experience, discover, engage and transact with brands as they do with friends, through messaging platforms and social media. The second is the positive use of data and artificial intelligence to predict what is the next best interaction a company can have with each customer. Take Blip solves both challenges and in a matter of weeks we fast-forward a few years of our clients’ digital strategy,” Take Blip’s CEO Roberto Oliveira said.
Founded in 1966, Warburg Pincus has raised 19 private equity funds, which have invested more than $84 billion in over 900 companies in more than 40 countries.
The firm has more than $53 billion in private equity assets under management with a portfolio comprising more than 185 companies, and is one of the most active growth investors in TMT globally, having invested over $20 billion in more than 330 companies in the space.