Singapore-based debt fund Mars Growth Capital participated in debt financing round; The funds will help Hiver double revenue by accelerating marketing, sales efforts
Bengaluru, NFAPost: Hiver, the world’s first Gmail-based customer service solution, 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, Hiver helps teams collaborate on customer service emails right from Gmail. It offers powerful functionalities like email assignment, tracking, automations, analytics, SLAs, and Business Hours right out of the box.
Talking about this latest development, Hiver CEO and Co-founder Niraj Ranjan said last year the company shifted its focus from the shared inbox market to the highly-competitive customer service helpdesk market.
“We have seen an overwhelmingly positive response after this shift. We see a huge business opportunity with Hiver, in simplifying customer service for businesses by bringing it back to Gmail. 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,” said Niraj Ranjan.
More than 1,500 companies from over 30 countries use Hiver to manage customer communication, including industry leaders such as Vacasa, Upwork, AppsFlyer, Flexport, Harvard University, and Kiwi.com.
MARS Growth Capital is a joint venture between Mitsubishi UFJ Financial’s core banking unit, MUFG Bank, and Liquidity Capital. Mars Growth Capital looks to provide debt facilities to fast-growing startups in the Asia-Pacific region, especially for e-commerce and software-as-a-service (SaaS) verticals.
“Mars Growth Capital has a unique AI platform that supports growth debt for APAC e-commerce and SaaS startups,” said investment director Ryutaro Edward Hiroshima. “Hiver is a growing company that perfectly fits our AI model,” he added.
Hiver is the world’s first Gmail-based customer service solution. It helps teams across the organization collaborate on shared inboxes like services@, orders@, support@.
The company claims that tt’s the most frictionless, natural way for teams to handle customer email communication as it works right inside Gmail. It also helps teams collaborate better and make sure all queries are answered on time by the right people.