Mexico-based AI-driven commercial messaging platform Yalochat has raised US$ 15M in a Series B funding round held in August 2020, led by B Capital Group along with participation from Sierra Ventures.
Javier Mata, a Columbia University alumnus who studied engineering and established three other companies beginning in 2013, namely Ceute Ventures, Chamba and Rentudo Inc., founded Yalochat in 2015.
Yalochat offers an AI-based customer management platform to businesses in order to help them give a pleasant experience to their customers. It manages digital productivity for sales and customer service through applications that enable customers to get what they want from various businesses in a personalized style.
It develops chatbots that enable many of its customers like Coca-Cola, Walmart, Pepsico, Amazon, Elektra and many more to sell and converse automatically with users via Facebook Messenger, WhatsApp, and other similar applications. This helps in efficient handling of customer requirements to the point of payment and fulfillment, thus enabling brands to successfully communicate with their customers.
The startup claims that since the beginning of the COVID-19 pandemic, it has seen a tenfold surge in volume and a 650% increase in message volume. This is partially due to the fact that many large enterprises, especially those outside of the U.S. have started using messaging apps to carry out some of their sales operations and much of their customer service.
CEO Javier Mata said, “With Coca-Cola, we started in Brazil and we helped them run their commerce when it comes to talking with small mom-and-pop shops.” The CEO also points out that other similar companies haven’t been successful because their technology is not simple or doesn’t really work. He further adds that Yalochat’s platform is scalable, easy to launch, and proficient enough to run smoothly without passing any complexity to end-users.
The startup had previously secured US$ 8M in a Series A funding round held in March 2019 from Sierra Ventures.
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