AI-powered Yalochat secured $15 million in Series B Funding

Yalochat, a Mexico City-based company that offers an AI-powered conversational commerce platform, has now secured a $15 million in Series B funding round.

Yalochat is founded by Javier Mata. It is a conversational commerce suite that enables the big brands to support the marketing, sales, and customer service over Facebook Messenger, WhatsApp, and WeChat in China.

Executive Opinion

Eduardo Saverin, B Capital Group co-founder, and Managing Partner said, "Conversational commerce has become mission-critical to companies looking for new 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. This is also B Capital’s first investment in the Latam region and I am personally looking forward to helping them create new, meaningful connections between Latam, Asia and the U.S., where Yalochat can help companies bridge the gap between existing software solutions and the vast world of messaging apps." 

Javier Mata, CEO, and founder of Yalochat, said, "The app ecosystem has failed to meet both business and user expectations. In emerging markets, 70% of apps are uninstalled or not used 2 months after being downloaded. Given the high usage of messaging apps, it made more sense to build a platform where users can get what they want from businesses they interact with in a direct and personalized way through mini apps."

The round was backed by the B Capital Group with participation from Sierra Ventures.

The company, as of now, has plans to use the new funds to expand its business outreach across the globe. With the latest funding round, the company has secured a total of $25 Million to date, notes the announcement.

PC: Pablo, Pixabay