Shadine Taufik · · 1 min readSG cloud communications firm nets $5m extension on series A
Cloud communications provider Toku has received a US$5 million extension of its series A, bringing its total raised for the round to US$10 million.
The extension was co-led by Delivery Hero Ventures and OSK Ventures International, with Betatron Venture Group participating.
Photo credit: Toku
Singapore-headquartered Toku offers voice and messaging API, provides a contact center platform, and enables phone calls on Microsoft Teams and Zoom.
Founded by Thomas Laboulle in 2018, the startup has recorded a compound annual growth rate of 128% over the past four years, including the projections for 2022.
To date, Toku has handled around half a billion customer interactions across its 17 Asian-Pacific markets. Its clientele includes known companies such as Gojek, Lenskart, Decathlon, and JCDecaux.
Toku will use the fresh funds to establish a local presence in Indonesia, Vietnam, Malaysia, Hong Kong, South Korea, and the Philippines. It also plans to double its headcount to 200 by 2024 and invest more in innovation and improvements to its tech.
The funding comes as the global cloud communications market is set to grow to US$51.4 billion by 2023, increasing at a compound annual growth rate of 19.8%.
See also: Exclusive: Bukalapak co-founders back local cloud management firm
Editing by Miguel Cordon and Eileen C. Ang
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