Sinch was granted early access to the Messenger API for Instagram, which enables brands to have scalable conversations with their customers using Instagram DMs or Stories, facilitating engaging user interaction and enhanced customer support.
It means businesses and brands can now access and use Instagram DMs or Stories for customer engagement at scale via Sinch's omnichannel messaging gateway.
“Instagram is a powerful channel that lets businesses engage with their customers in a simple, secure and effective way,”, said Eduardo Henrique, Sinch’s chief business development officer.
“The results from our early access trials are very encouraging as customers appreciate the faster responses and improved customer experience that the new offering entails.”
The development was announced days after Sinch raised $1.1 billion in its latest share issue.
More than 7.2 million shares were issued at the end of May at a subscription price of SEK 1,300 per share, taking the total from 65,035,134 to 72,267,211.
Among the buyers this time, Temasek and SB Northstar LP – a fund managed by SB Management, a wholly owned direct subsidiary of SoftBank – each subscribed for 700,000 shares.
In light of the higher number of total shares that are now trading, Sinch's share capital will increase by SEK 723,207.70 to reach SEK 7,226,721.10. The directed new share issue entails a "dilutive effect for existing shareholders" of approximately 10%.
Sinch's latest fundraising follows the recent acquisition of US voice network operator Inteliquent, for $1.1bn and an additional investment of $690m from Softbank at the end of Q4.
Sinch was founded on $10,000 in share capital and has grown through an M&A strategy that has seen it build capabilities and teams as well as geographic reach. As of Q1 this year, it had closed 14 deals since its 2015 IPO.
Last month Sinch was recognised by IDC MarketScape as a company with a “significantly balanced voice and messaging portfolio”.
CEO Oscar Werner said of the recognition: “Sinch has clear differentiators, all that benefit thousands of customers, including eight of the top 10 leading tech companies in the world. Being recognised by the IDC MarketScape as a worldwide Leader in CPaaS is a testament to our commitment to quality, scale, and unmatched global reach with direct connections to more than 450 mobile operators.”
In the IDC MarketScape: Worldwide Communications Platform-as-a-Service 2021 Vendor Assessment report, Sinch was recommended as a partner for global companies that require programmable customer engagement messaging and voice APIs for their cloud communications technology stack.
Courtney Munroe, research vice president of worldwide telecommunications research at IDC added: “Global companies that require reliable, robust, programmable customer engagement messaging and voice APIs will find an able partner in Sinch.
“Local and regional companies who need a partner that understands local regulatory environments and can provide easy to use SaaS solutions will also benefit from leveraging Sinch’s diverse platform,” Munroe added.
