Singapore-based debt fund Mars Growth Capital participated in the debt financing round. The funds raised will help Hiver double revenue by accelerating marketing and sales efforts…
SAN JOSE/BANGALORE, Feb 12, 2021: Hiver, a Gmail-based customer service solution, today announced it has raised $4 million in debt financing from Singapore-based debt fund Mars Growth Capital.
Built for Google Workspace (Formerly G Suite) users, Hiver helps teams collaborate on customer service emails right from Gmail. It offers powerful functionalities like email assignment, tracking, automation, analytics, SLAs, and Business Hours right out of the box.
Talking about this latest development, Niraj Ranjan, the CEO, and Co-founder of Hiver, said: “Last year, we shifted our focus from the shared inbox market to the highly-competitive customer service helpdesk market, and we have seen an overwhelmingly positive response. We see a huge business opportunity with Hiver, in simplifying customer service for businesses by bringing it back to Gmail.”
“With this funding, we will aggressively expand on our sales and marketing efforts to grow our customer base and double revenues in 2021 and 2022,” added Niraj.
More than 1,500 companies from over 30 countries use Hiver to manage customer communication, including industry leaders such as Vacasa, Upwork, AppsFlyer, Flexport, Harvard University, and Kiwi.com.
MARS Growth Capital is a joint venture between Mitsubishi UFJ Financial’s core banking unit, MUFG Bank, and Liquidity Capital. Mars Growth Capital looks to provide debt facilities to fast-growing startups in the Asia-Pacific region, especially for e-commerce and software-as-a-service (SaaS) verticals.
“Mars Growth Capital has a unique AI platform that supports growth debt for APAC e-commerce and SaaS startups,” said investment director Ryutaro Edward Hiroshima. “Hiver is a growing company that perfectly fits our AI model,” he added.