Malaysia’s AI agent-powered messaging app Respond.io raises $62.5M, eyes acquisitions

Respond.io secured $62.5 million in Series B funding on March 19, 2024, with plans to use the capital for strategic acquisitions and further product development. The Malaysian startup, which utilizes AI agents to manage substantial volumes of customer inquiries, operates on a per-conversation pricing model rather than a per-seat model. This funding round was led by Marble Capital, with participation from existing investors like FundersClub and Iterative Ventures. The company reported a 300% year-over-year revenue growth in 2023 and aims to expand its global reach, particularly in North America and Europe. Respond.io's platform integrates with over 100 channels, including WhatsApp, Facebook Messenger, and SMS, enabling businesses to centralize customer communications. The AI agents are designed to automate responses, qualify leads, and escalate complex issues to human agents, thereby improving customer service efficiency. The company stated that this funding will accelerate its mission to empower businesses with intelligent communication tools. Respond.io was founded in 2016 and has since grown to serve over 10,000 businesses worldwide.