Carey Olsen advises AI-powered marketing firm Blip on US$60 million funding round
Carey Olsen has advised Brazil-based conversational marketing platform Blip on its US$60 million Series C funding round led by Softbank Group Corp. ("Softbank") with participation from Microsoft, bringing the company's total capital raised to US$230 million.
Established in 1999 as a mobile phone store, Blip is today a leading text messaging marketing platform which provides 32 countries and over 4,000 brands worldwide with AI-driven chatbot solutions to text messaging campaigns.
Having processed over 40 billion messages and having developed 141,000 chatbots for 177 million users through social messaging apps last year, the new funds will be used to expand Blip's market presence internationally and drive product development.
The Carey Olsen Cayman Islands corporate team advising on the transaction comprised partners Trevor McCabe and Alistair Russell and senior associate Evan Stitt, with Bronstein, Zilberberg, Chueiri & Potenza Advogados acting as lead onshore counsel.
Trevor McCabe said: The scale of Softbank's investment in Blip and Microsoft's participation as a rare direct investor demonstrates how conversational marketing is becoming an increasingly powerful tool for businesses and how they engage with their customers. Blip's AI-driven conversations have generated impressive results and steady growth in recent years, and we look forward to seeing how the company drives forwards exciting developments in the AI space as a result of its successful funding round."
Softbank is a Japanese multinational investment company headquartered in Tokyo and one of the most influential technology investors in the world, primarily investing in AI, e-commerce and fintech.
