Pypestream, a New York, NY-based developer of an enterprise smart messaging app, raised $15M in funding.
The round was led by Rick Braddock, former Chairman and CEO of Priceline and former President and COO of Citibank; The Chatterjee Group; and a large global hedge fund with participation from a number of existing and new individual investors.
The company intends to use the funds for the continued development of its patented platform.
Led by Founder and CEO Richard Smullen, Chief Revenue Officer Durk Stelter, Chief Operating/Technology Officer Saied Seghatoleslami, and Chief Marketing Officer Zvi Moshkoviz, Pypestream provides a smart messaging platform that combines pragmatic AI and conversational chatbots to enable businesses to take advantage of personalized mobile messaging. The platform allows brands to engage with consumers in personal, 1:1 conversations at scale, and end-users to have on-demand access to brands for customer service, marketing and promotions, and purchases and transactions.
The company serves enterprise customers across major industry verticals, including healthcare, insurance, utilities, and government.