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Social Media22 Aug 2024 10:56

SleekFlow Raises $7M to Advance Conversational AI and Expand Global Presence

by Bitgaram
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SleekFlow, a social commerce platform headquartered in Singapore and Hong Kong, has secured $7 million in a Series A+ funding round. The investment, led by South Korea’s Atinum Investment, brings SleekFlow’s total funding to $15 million. 

This round also includes contributions from existing investors AEF Greater Bay Area Fund, managed by Gobi Partners GBA and Transcend Capital Partners, and new investor Moses Tsang, former General Partner at Goldman Sachs Group and Chairman of Goldman Sachs (Asia) LLC.

The new funds will be used to advance SleekFlow’s conversational AI suite and expand its reach into Southeast Asia, the Middle East, and Europe. The company aims to enhance its AI capabilities and deepen its market penetration across these regions.

SleekFlow’s latest funding has shown rapid expansion of social commerce, where platforms like Facebook, Instagram, WhatsApp, TikTok, and YouTube are increasingly used for marketing and customer engagement. Social commerce is growing faster than traditional e-commerce, with the Asia Pacific market projected to surpass $894 million by 2028, marking a 10.6% increase from 2022. Conversational AI is crucial in this growth, allowing businesses to efficiently scale customer service and gain valuable insights through advanced analytics.

The conversational AI market itself is expected to expand significantly, reaching $49.9 billion by 2030, up from $13.2 billion in 2024. 

SleekFlow’s plans to capitalize on this trend by providing a platform that integrates messaging, payment solutions, and order management into a single interface. This helps businesses deliver customer interactions across various channels while maintaining operational efficiency.

The startup operates on a multi-tier SaaS model, offering an optional WhatsApp Business messaging channel. It caters to diverse sectors, including insurance, healthcare, telecom, and retail, with clients such as Hong Kong Broadband Networks, Delonghi, Cellini, and Khind. 

SleekFlow’s solutions are currently deployed in Singapore, Hong Kong, Malaysia, Indonesia, Brazil, and the UAE. The shift towards online shopping in Indonesia and high consumer spending in Saudi Arabia and the UAE are seen as key growth opportunities.

​​Henson Tsai, SleekFlow’s Founder and CEO, highlights the company’s commitment to advancing its technology with the support of the latest funding. The company plans to invest in AI innovation, including enhanced analytics and marketing workflows, and expand its services to include calls and emails. 

The appointment of Chief Technology Officer Gao Lei, a Silicon Valley veteran, is expected to drive these technological advancements and support the company’s expansion goals.

SleekFlow’s expansion plan includes developing fully automated sales and support journeys across voice, calls, and email to deliver exceptional value to its customers.


Also Read:

  • Singapore’s DiMuto Secures $5.9 Million in Series A Funding for Expansion into Latin America and US
  • Finno Efra: New $35M Fund and Accelerator Program for Thai and ASEAN Startups
  • Building the Future: Vynn Capital’s Victor Chua’s Vision for Southeast Asian Startups
  • Syfe Secures $27M in Series C Funding to Expand Asia-Pacific Footprint
  • Incubate Fund Asia Closes $30M Fund to Boost Early-Stage Startups in India and Southeast Asia
Tags: fundingSingaporeStartup

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