Respond.io raises $62.5 million Series B to fund expansion
Respond.io, a Kuala Lumpur-based platform that helps businesses chat with customers on apps like WhatsApp and Instagram, just scored $62.5 million in Series B funding.
Led by Camber Partners, with participation from Endeavor Catalyst and existing investors, this big boost comes after their $7 million Series A in 2022.
Founded in 2017 and now pulling in $35 million a year with solid profits, the company is gearing up for major expansion.
Respond.io charges by conversation volume
Instead of charging by user seats like enterprise software competitors, Respond.io charges based on conversation volume, with the company currently processing 2 billion messages every quarter.
CEO Gerardo Salandra says they're planning to buy tech and teams in North America and Western Europe to grow faster there; those regions are currently their fastest-growing markets but only make up 20% of revenue so far.
Most of their business still comes from APAC, Latin America, and the Middle East and Africa, but they expect things to shift globally within a few years.