Gmail-based customer service solution Hiver, on Friday raised $4 million in debt financing from Singapore-based debt fund Mars Growth Capital.

The funds raised will help Hiver double revenue by accelerating marketing and sales efforts.

Built for Google Workspace (Formerly G Suite) users, Hiver helps teams collaborate on customer service emails right from Gmail. It offers functionalities like email assignment, tracking, automations, analytics, SLAs, and Business Hours, right out of the box, the release added.

Niraj Ranjan, CEO & co-founder of Hiver said, “Last year, we shifted our focus from the shared inbox market to customer service helpdesk market, and we have seen a positive response.”

“With this funding, we will expand on our sales and marketing efforts to grow our customer base and double revenues in 2021 and 2022,” added Niraj.

The company says that it has over 1,500 customers from over 30 countries using Hiver to manage customer communication, including Vacasa, Upwork, AppsFlyer, Flexport, Harvard University, and

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 startups in the Asia-Pacific region, especially for e-commerce and software-as-a-service (SaaS) verticals.

“Mars Growth Capital has an 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 fits our AI model,” he added.

News Of India


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