Facebook announced Monday that it plans to acquire customer relationship management startup Kustomer. The startup, which is backed by investors including Battery Ventures and Tiger Global Management, has raised more than $173 million in funding.
Facebook did not disclose financial terms of the acquisition but sources familiar with the matter told The Wall Street Journal that the deal was valued at about $1 billion.
“Kustomer is an omnichannel CRM platform that brings customer conversations from various channels together into a single-screen view. It helps businesses automate repetitive tasks so their agents can maximize the time and quality of interactions with customers,” Facebook wrote in a statement. “Facebook plans to support Kustomer’s operations by providing the resources it needs to scale its business, improve and innovate its product offering, and delight its customers. That way, more people will benefit from customer service that is faster, richer and available whenever and however they need it, whether it’s phone, email, web chat or messaging.”