SleekFlow, based in Singapore and known for its Omnichannel Conversational AI Suite, has raised USD $7 million in a Series A+ funding round. The funding round was led by South Korean venture capital firm Atinum Investment. This brings SleekFlow's total funding to USD $15 million.
The investment round also saw participation from existing investors like AEF Greater Bay Area Fund, managed by Gobi Partners GBA and Transcend Capital Partners, and a new investor, Moses Tsang, former General Partner of Goldman Sachs Group and Chairman of Goldman Sachs (Asia) LLC.
The newfound capital aims to accelerate SleekFlow's global expansion, specifically targeting Southeast Asia, the Middle East, and Europe. Additionally, the funds will be allocated to advancing AI technology, including analytics and the building of marketing workflows. The funding will also support the expansion of communication channels such as calls and emails, which will help serve a growing global customer base better.
"We are excited to have Atinum Investment as a strategic partner on the next stage of our expansion, along with investors with whom we have established connections," said Henson Tsai, Founder & CEO of SleekFlow.
Tsai added, "Since the appointment of our Chief Technology Officer, Gao Lei, a Silicon Valley veteran, we have significantly increased our engineering efforts to be at the forefront of innovative tech and advanced AI. Gao Lei has been leading the charge in planning, implementing, and transforming SleekFlow's technology stacks, system support, and infrastructure to align with our company's goals and market demands."
"We are more ambitious than ever, with offerings underway for fully automated sales and support journeys in voice, calls, and emails, to deliver unparalleled value to our customers across industries like insurance, healthcare, telecom, service, and retail."
The conversational AI market is projected to grow from USD $13.2 billion in 2024 to USD $49.9 billion by 2030, according to Yahoo Finance. In this context, SleekFlow aims to become a top customer engagement solution. By merging conversations, product catalogues, payment solutions, and order management, SleekFlow’s suite provides an integrated platform to help businesses engage with their customers more effectively.
SleekFlow's client roster includes well-known names such as Delonghi, Hilton Dubai, L'Occitane, Shangri-La, Hong Kong Broadband Network, Cellini, Khind, TOTO, 7-Eleven, Kimberly Clark, Awfully Chocolate, and Audi. These businesses have seen benefits from SleekFlow's robust solutions, enhancing their business operations through omnichannel conversational AI capabilities.
Atinum Investment's Regional Head of the Singapore Office and Director, Peter Na, remarked, "Being at the front of the rapidly expanding global customer engagement market, SleekFlow meets the evolving needs of enterprise customers. SleekFlow's localised approaches have expanded it beyond Asia, entering new markets in the Middle East and South America. We are fully committed to supporting its ongoing global expansion and are excited for the opportunities ahead."
Following a successful funding round of USD $8 million in 2022, SleekFlow has now raised a total of USD $15 million to date. The company plans to pursue Series B fundraising within the next 12 months to further bolster its position in the global technology sector.
