Coinbase acquires AI-powered customer support startup Agara for $40M

Coinbase has acquired AI-powered customer support startup Agara with plans to expand the recently launched Tech hub in India. This is expected to allow Coinbase to provide its customers with new personalized, intelligent, and real-time support options.

Coinbase and Agara didn’t disclose the term of the deal after the acquisition.

However, it is anticipated to be between $40 million and $50 million as reported by Techcrunch drawing citations from sources familiar with the matter on Tuesday.

Hiring of support staff

Over 40 people are employed by Agara which offers services like Salesforce, Shopify, and Twilio.

According to Agara CEO and co-founder Abhimanyu, Agara will also shift its focus to Coinbase after the acquisition.

According to Coinbase;

‘’The acquisition reinforces our commitment to delivering world-class support for customers, and brings Agara’s deep expertise in machine learning (ML) and natural language processing (NPL) to Coinbase engineering team.’’

Exploring skills

All the recruits in India will be would propose a one-time payment of $1000 made in crypto, to attract the best talent in July.

The top priority of Coinbase In the past few months was to improve customer experience which increased its support staff headcount fivefold. They are also planning to launch a 24/7 phone support and live message by the end of the year.

Coinbase on an acquisition spree

Coinbase had several acquisitions this year which included crypto data aggregator skew, Crypto startup Zabo, and Blockchain node provider service Bison Trails before Agara.

Tracxn, a data intelligence platform, shows that the firm has completed a total of 18 acquisitions before the Agara deal, investing in human resource technology (HRTech), cryptocurrencies, and Blockchain infrastructure sectors.

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