Constancy deepens valuation minimize for SaaS startup Gupshup | TechCrunch

Constancy has slashed the estimated value of its holding in SaaS startup Gupshup by over 20% in a month and by greater than 50% for the reason that unique funding within the newest brutal markdown throughout non-public markets.

The U.S. asset supervisor valued its holding in Gupshup at $8.08 million on the finish of June, down from $10.15 million a month prior, in line with a month-to-month disclosure. Constancy initially invested $16.2 million from its Blue Chip Progress Fund in Gupshup in mid-2021 in a funding spherical that valued the enterprise messaging providers supplier at $1.4 billion.

The enterprise messaging platform, which began its journey in India 17 years in the past, raised $340 million in 2021 from a clutch of buyers together with Tiger International, Suppose Investments and Malabar Investments.

Constancy barely improved the worth of its holdings in Reddit, Discord, Twitter-parent X Holdings and Indian e-commerce Meesho within the month of June, it disclosed within the submitting.