Active.ai Acquisition, Valuation, Funding & Investors

Active.ai was acquired by GupShup for $1B in April 2022.

Active.ai acquisition price

$1B

Acquired by GupShup · Apr 2022

Cumulative funding Active.ai raised

$15M

across 4 funding rounds

Key investors in Active.ai

  • Chiratae Ventures
  • Kalaari Capital
  • Vertex Ventures
  • Vertex Ventures Southeast Asia & India
  • CE Innovation Capital
  • IDG Capital
  • InnoVen Capital
  • Dream Incubator

Active.ai Overview

About Active.ai

Active.ai is a conversational AI platform designed for banking, insurance, and capital markets. Headquartered in Bangalore with U.S. offices, the firm deploys Triniti, its NLP-powered engine, across messaging apps, voice assistants, and IoT devices for personalized customer interactions like account queries and claims processing.


Founded

2016

HQ

SingaporeSingapore

Website

active.ai

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Valuation

$1B (acquired Apr 2022)

Active.ai Acquisition

Active.ai was acquired by GupShup for $1B on 5 April 2022.

Before the acquisition Active.ai had raised $15M across 4 funding rounds.

Gupshup, a conversational engagement platform, acquired Active.Ai, a conversational AI startup focused on banking and fintech, in an all-cash deal around April 2022, marking its second or third acquisition that year. Active.Ai provides a Conversational Banking as a Service (CBaaS) platform used by banks like Kotak Mahindra, IndusInd, and HDFC, as well as Ola, Zomato, and Flipkart, enabling over 300 million user interactions with 95% accuracy across voice, video, and messaging in 43 countries. The acquisition strengthens Gupshup's customer experience solutions for BFSI customers by adding vertical depth to its product stack for intelligent, frictionless conversations. Active.Ai, headquartered in Singapore and founded by Parikshit Paspulati, Ravi Shankar, and Shankar Narayanan, had raised over $390 million from investors including InnoCells, Kalaari Capital, Vertex Ventures, Chiratae Ventures, CreditEase, and Dream Incubator. It partners with AWS, Microsoft, Infosys Finacle, TCS, Finastra, EY, PwC, and Accenture. Gupshup's CEO Beerud Sheth highlighted the addition of Active.Ai's robust platform to enhance omnichannel engagement, while Active.Ai's CEO Ravi Shankar expressed excitement about shaping conversational engagement in financial services. The deal amount was not disclosed, with Gupshup's spokesperson confirming only that it was all-cash. Vertex Ventures noted the merger as a logical evolution to bring advanced engagement across messaging, voice, and video to enterprise customers amid a growing global customer service software market projected to reach $2.5 billion by 2025.

Active.ai acquisition details
AcquirerDateTypePrice
5 Apr 2022Strategic M&A$1B

Active.ai Funding History

Active.ai has raised a total of $15M across 4 funding rounds.

Active.ai's first fundraising round was a $500K pre-seed round in May 2016. The most recent completed round was a $3M Series A in June 2019.

Active.ai funding rounds

Active.ai funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2019Series AInnoVen Capital (lead); InnoCells; Vertex Ventures; Vertex Ventures Southeast Asia & India; Kalaari Capital; CE Innovation Capital; Chiratae Ventures$3M-
Nov 2017Series ACE Innovation Capital (lead); Dream Incubator (lead); Vertex Ventures (lead); Vertex Ventures Southeast Asia & India; Kalaari Capital; Chiratae Ventures$8MActive.ai raised funding in a Series A round on November 14, 2017, involving investors including CE Innovation Capital, Chiratae Ventures, Kalaari Capital, and Vertex Ventures. The company, founded in 2017 as Innoactive Intelligence LLP and based in Singapore with subsidiaries in the US and India, develops AI-driven banking solutions using NLP for conversational assistants that automate processes and enhance customer engagement across channels for banks and credit unions. Active.ai has secured a total of $15.35M across 10 funding rounds from 12 investors, with later rounds including an acquisition by GupShup on April 5, 2022.
Nov 2016AngelIDG Capital (lead); Kalaari Capital; Chiratae Ventures$3MActive.ai, a Singapore-based fintech startup, raised USD 3 million in funding on November 14, 2016, from IDG Ventures India and Kalaari Capital. The company develops an AI platform providing virtual assistant banking services using advanced natural language processing (NLP) and machine intelligence for natural dialogues over messaging, voice, or IoT devices. The investment aimed to support rapid growth, advance the platform, and build AI features to enhance banking experiences for clients. Active.ai helps banks redefine digital strategies with automation and intelligent customer engagement in banking and payments. CEO Ravishankar emphasized the shift from 'Mobile First' to 'AI first,' positioning Active.ai as a key enabler. COO Shankar Narayanan highlighted the technology's focus on superior user experiences through conversational UX.
May 2016Pre-seedKstart (lead)$500K-

Who has invested in Active.ai?

10 investors have backed Active.ai across its funding rounds, including Chiratae Ventures, Kalaari Capital, Vertex Ventures, Vertex Ventures Southeast Asia & India, CE Innovation Capital and IDG Capital.

Lead investors include InnoVen Capital, CE Innovation Capital, Dream Incubator, Vertex Ventures, IDG Capital and 1 other investor.


Active.ai Investors

Investors in Active.ai by funding rounds participated
InvestorHQRoundsRoleFirst check
Kalaari CapitalIndiaBangalore3ParticipantNov 2016
Chiratae VenturesIndiaBangalore3ParticipantNov 2016
Vertex VenturesSingaporeSingapore2LeadNov 2017
Vertex Ventures Southeast Asia & IndiaSingaporeSingapore2ParticipantNov 2017
CE Innovation CapitalSingaporeSingapore2LeadNov 2017
InnoCellsSpainBarcelona1ParticipantJun 2019
KstartIndiaBangalore1LeadMay 2016
IDG CapitalChinaBeijing1LeadNov 2016

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Active.ai Competitors

Active.ai competitors include listed companies like Ncino and Bravura Solutions, and private ones like Vise, infiBond, Zest AI and TrustDecision.

Public and private companies comparable to Active.ai
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
NcinoUnited StatesUnited StatesPublicly listed$595M$65M$2.3B4.0x
ViseUnited StatesNew York City, NYPrivate--$1B-
infiBondIsraelTel AvivPrivate--$1.3B-
Zest AIUnited StatesLos Angeles, CAPrivate$38M-$1.5B39.5x
Bravura SolutionsAustraliaAustraliaPublicly listed$201M$55M$1B4.9x
TrustDecisionChinaShenzhenPrivate--$1B-

Active.ai Public Comps

Active.ai is no longer listed, but its public comps include Bravura Solutions, Appier Group, Rackspace, Vitec Software, Rezolve AI, Intellect Design Arena Ltd, Optasia, Beijing CTJ Info Tech, Shenzhen Sunline and PEXA Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Bravura Solutions$201M$55M4.9x4.9x17.9x17.0x
Appier Group$281M$44M3.4x2.9x21.6x15.7x
Rackspace$2.7B$244M1.5x1.6x17.1x15.0x
Vitec Software$371M$151M3.7x3.5x9.1x9.0x
Rezolve AI$47M($109M)23.3x4.0x(10.0x)(19.3x)
Intellect Design Arena Ltd$317M$64M2.8x2.6x13.8x12.7x
Optasia$265M$79M4.3x3.6x14.5x9.1x
Beijing CTJ Info Tech$123M$13M5.3x4.9x51.3x34.6x

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Common questions about Active.ai

When was Active.ai founded?Active.ai was founded in 2016.
Where is Active.ai headquartered?Active.ai is headquartered in Singapore, Singapore.
Is Active.ai publicly listed?No, Active.ai was acquired by GupShup in April 2022.
Who acquired Active.ai?Active.ai was acquired by GupShup in April 2022.
How much was Active.ai acquired for?Active.ai was acquired for $1B in April 2022.
How much funding has Active.ai raised?Active.ai has raised $15M across 4 funding rounds.
What was Active.ai's last funding round?Active.ai's last funding round was a $3M Series A in June 2019, led by InnoVen Capital.
Who are Active.ai's investors?Active.ai's investors include Kalaari Capital, Chiratae Ventures, Vertex Ventures, Vertex Ventures Southeast Asia & India, CE Innovation Capital, InnoCells, Kstart, IDG Capital, Dream Incubator and InnoVen Capital.
Which companies are comparable to Active.ai?Companies comparable to Active.ai include Ncino, Vise, infiBond, Zest AI, Bravura Solutions and TrustDecision.

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