B Capital Group leads $15m Series B in conversational commerce platform Yalochat

Photo: Indranil Bhoumik/Mint

B Capital Group has led a $15 million Series B round in Yalochat, an artificial intelligence-based customer relationship management (CRM) platform, with participation from existing investor Sierra Ventures.

With this financing, the total funding raised by Yalochat stands at $25 million, the company said in a statement on August 20, adding that the proceeds will fuel its rapid growth in Latin America and Asia.

“Conversational commerce has become mission-critical to companies looking for ways to engage with potential customers on their preferred messaging channels. From the beginning, B Capital has been extremely impressed by the Yalochat team, products, and growth path,” said B Capital Group co-founder and managing partner Eduardo Saverin.

“This is also B Capital’s first investment in the Latin American region and I am personally looking forward to helping them create new, meaningful connections between Latam, Asia and the US, where Yalochat can help companies bridge the gap between existing software solutions and the vast world of messaging apps,” he added.

Yalochat said its mission is to build a platform to enable enterprises to digitally engage and delight their customers over messaging, and the recent pandemic has continued to fuel their purpose.

San Francisco-based Yalochat has offices across Latin America and India and a global presence through partnerships in other emerging markets. The platform now powers conversational commerce for leading global enterprises such as Walmart, Amazon, Pepsi, Dominos, and Unilever.

“Over the past few months, the COVID-19 pandemic has proven the importance of conversational workflows. We donated our technology to the governments of Mexico and Colombia, so they could handle the spike in demand for healthcare by advising and even providing COVID diagnosing to their citizens in an easier, faster, safer way through WhatsApp,” said Yalochat founder and CEO Javier Mata.

In March last year, Yalochat bagged $8 million in funding from Silicon Valley-based venture capital firm Sierra Ventures to expand in India.

Founded in 2015, Yalochat allows companies to carry out end-to-end relationship management with their respective customers through popular chat platforms such as WhatsApp. With Yalochat’s AI-based platform, companies no longer need to build apps as they can offer the same services via WhatsApp.

Meanwhile, in June this year, B Capital Group has closed its second global fund for B2B growth-stage investments at $820 million, bringing its total assets under management to nearly $1.44 billion.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.