Mexican AI-driven CRM platform Yalochat, which makes it easier for businesses and customers to interact with each other over WhatsApp, has raised US$15 million in a fundraising round led by B Capital Group.
Most of Yalochat’s customers are large U.S. business houses such as Coca-Cola, Amazon, Pepsi, Domino’s, and Walmart, who use the platform to interact with mom-and-pop shops that purchase their goods in large quantity.
The reason Yalochat became so popular in so short a period of time is that it enables companies to manage sales and customer relationships through messaging apps like WhatsApp. Many mom-and-pop shops don’t own websites of their own, and as such depend on Yalochat.
The startup also counts Volkswagen and Aeroméxico among its customers. Analysts say the Mexican startup may one day pose a threat to the likes of Salesforce and ServiceNow.
The capital injection from B Capital may open up new opportunities for Yalochat because the venture capital fund’s co-founder Eduardo Saverin was also a co-founder of Facebook, the US social media giant that owns WhatsApp.
Sierra Ventures, its previous investor, is also reputed for successfully grooming enterprise software vendors. Among the startups in its portfolio include MakeMyTrip, India’s hugely popular online travel services firm.
Reports say that those at the helm of Sierra Ventures have a greater understanding of the world of enterprise software as well as CRM.
Although headquartered in San Francisco, Yalochat runs three offices in the Latin American cities of Bogotá, São Paulo, and Mexico City.