FPT acquires Alpha JWC-backed Vietnamese SaaS startup Base.vn

FPT Corporation, Vietnam’s largest technology and IT services group, has acquired software-as-a-service (SaaS) startup Base.vn for an undisclosed sum. The deal was announced at an event held in Ho Chi Minh City today.

Base.vn CEO and founder Hung Pham at an October 2020 event / Photo credit: Base.vn

FPT’s offer came at a time that Base.vn was trying to raise a new funding round, Tech in Asia has learned.

Established in 2016 by Stanford University alumnus Pham Kim Hung, Base.vn helps enterprises streamline management and operation activities such as hiring, payroll, and team collaboration as well as task and approval management.

It previously raised about US$1.7 million from 500 Startups Vietnam, Alpha JWC Ventures, Beenext, Nextrans, and Vietnam Innovative Startup Accelerator, which was established in January 2017 by FPT Ventures and Dragon Capital.

The SaaS firm says that its client base includes more than 5,000 Vietnamese corporations as well as small and medium-sized enterprises. In 2019, it became Alpha JWC Ventures’ first investment in Vietnam.

Base.vn’s misson is “to build the future of work,” said CEO and founder Pham when the company got the 2019 funding. “We spent the last two years building a special model capable of integrating various apps into a centralized place. Each app will be the best solution for a single business function, and blended together to become a powerful workplace for enterprises,” he added.