M&A
CRM platform Agara to be acquired by US co Coinbase for over $40-M
Company Announcement TechCrunch
Nasdaq-listed, Wilmington, DE (USA)-based cryptocurrency exchange Coinbase is to acquire Bengaluru-based Agara Labs, a provider of an AI-powered CRM software platform, for (reportedly) over USD 40 million. Agara will bring to the acquirer expertise in machine learning and natural language processing. The startup, which employs over 40 people, has several large global customers. After the acquisition, Agara will shift focus to Coinbase. Through the deal, Coinbase expects to provide its customers with new personalized, intelligent, and real-time support options. Earlier in the year, Coinbase laid out its strategy to build a tech hub in India and hired Pankaj Gupta, a former Google Pay executive, to head its India operations.
Between Oct-17 and Feb-21, Agara Labs raised over $7-M from University of Tokyo Edge Capital, RTP Global, Blume Ventures, and KPCB.
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