Toku, the only dedicated cloud communications provider in Asia Pacific (APAC), today announced a US$5 million Series A extension, bringing its total funding to US$10 million.
The extended round was co-led by Delivery Hero Ventures and OSK Ventures International of Malaysia with participation from Betatron Venture Group.
“We are thrilled to welcome both new and returning investors to our mission to reinvent customer experience (CX) for Asia-Pacific,” said Thomas Laboulle, Founder and CEO of Toku. “As APAC’s digital economy continues to mature, customer experience has become a key differentiator and a major driver of value for businesses. We are thrilled that our investors share our vision for building the future. of CX in the region.”
Toku has a clear path to profitability, recording a compound annual growth rate (CAGR) of 128% over the past four years, including expected financial results for fiscal year 2022 ending December 31, 2022. The company is approaches half a billion customer interactions processed annually across 17 markets in Asia-Pacific.
“This funding extension is a show of confidence that we are on the right track and reinforces our position as a leader in customer experience built in Asia-Pacific, for companies operating in the region,” added Laboulle.
A recent study by Toku revealed that consumers increasingly expect proactive service standards and personalized interactions. For example, 71% of respondents said they would be frustrated if a business did not have a local number to call when needed, and 67% prefer to communicate within a brand’s application environment. for a unified experience.
These ever-changing expectations and growing standards underscore the importance of modern customer engagement in the digital economy.
Toku works with leading regional brands such as foodpanda, Gojek, Lenskart, Decathlon and JCDecaux not only to solve their customer experience issues, but also to leverage their growth challenges.
“Toku has earned a reputation for exceeding client expectations,” said Brendon Blacker, managing partner at Delivery Hero Ventures. “We couldn’t be more excited to continue partnering with Thomas and the team to enable more APAC businesses to continue their digital transformation journey with Toku.”
Funding to Accelerate Regional Expansion
To enable more APAC companies to seize and turn their CX challenges into opportunities, Toku will leverage the new funding extension to quickly establish a local presence in Malaysia, Indonesia, Hong Kong, Vietnam, Korea South and the Philippines. It also aims to double its total workforce to 200 people by 2024.
“As customer experience is a focal point for businesses today, Toku’s accelerated expansion into APAC with this funding round will enable more businesses to deliver impactful results. We share Thomas’ vision of empowering businesses with Toku’s powerful solutions and are excited to be part of their high-growth journey ahead,” said Amelia Ong, Executive Director and CEO of OSK Ventures International.
The company will continue to invest in innovation and technology to reimagine the holistic customer experience for the digital economy. This includes unifying customer experience and employee experience into an all-in-one platform to power personalized customer journeys for businesses in APAC.
“Toku is typical of the resilient, fast-growing businesses we like to invest in at Betatron. Having worked with the Toku team since 2019, we have great confidence in their ability to modernize mission-critical communications services and grow rapidly in APAC, even amid economic uncertainty,” said Matthias Knobloch, managing partner and CEO of Betatron Venture Group.