(Bloomberg) -- Infobip, the Croatian technology firm that makes customer-service chatbots, plans to raise about $500 million from investors this year to fund deals ahead of an initial public offering in the U.S.

The company has just started speaking to investors about the funding, which would be 60% to 70% higher than Infobip’s previous $300 million round, founder and Chief Executive Officer Silvio Kutic said in an interview. The company could complete the funding by August and the business may be ready for an IPO in the next 18-to-20 months, he said.

Read More: U.S. Expansion Could Be Next Step for Croatian Unicorn Infobip

The funds will go toward acquisitions, which would give the company an expanded customer base and access to new technology, Kutic said.

“The market is very hot, very dynamic, it is moving quickly, and we plan to execute a few M&As before going public,” Kutic said. “In the next two-to-three months we should be able to close on the deals we are working on already.”

Money is pouring into software that helps companies connect with their users over different messaging platforms. MessageBird, a Dutch business that sells tools to enable customers to text, email or call a company with questions, raised $800 million from investors in April to fund the acquisition of U.S. email marketing firm SparkPost.

Vodnjan, Croatia-based Infobip helps companies such as Uber Technologies Inc. and Microsoft Corp. manage communications with clients through text messages and chat-bots. Sales climbed 57% in the first quarter from a year earlier to $1.25 billion, buoyed by the $300 million acquisition of OpenMarkets in November.

The Openmarkets deal came shortly after One Equity Partners bought a stake in Infobip in July for $200 million. The deal pushed Infobip’s value above $1 billion, making it the first unicorn in southeastern Europe. Additional investors added another $100 million to the round, Kutic said.

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