SMS GupShup raises $10m

Expansion money for Indian text-based social network with 50m users.

It's actually the fifth round of funding for SMS GupShup, which brings the running total to $47m. The round was led by Tenaya Capital and it includes existing investors Globespan Capital Partners, Helion Ventures, and Charles River Ventures.

The cash will be used to speed up a regional expansion programme already underway in Singapore and the Philippines.

SMS GupShup is an operator-focused service that lets users broadcast texts to opted in groups of followers. Senders pay for the service, and there is also the option to attach text ads.

The Indian firm was launched in April 2007, says it is adding over 1 million members per month, and adds that revenue increased by over 400 per cent in 2010.

Businesses use the platform for marketing purposes, and advertisers on the platform include Pepsi, eBay, ICICI Lombard, Microsoft, Cadbury, Vodafone, Nokia, Ford, Puma, Maybelline, Dell, Kingfisher, Sun Microsystems and ING Financial.