Toku, the Singapore-based dedicated cloud communications provider, has announced plans to establish a local presence in the Philippines after it raised an additional $5 million in its Series A funding round.
It also seeks to expand in Malaysia, Indonesia, Hong Kong, Vietnam, and South Korea as part of its efforts to help more businesses in the region to address their customer experience challenges, according to the announcement.
Toku provides communications and customer engagement services, including programmable APIs, contact centre, and corporate telephony. It works with various organizations, including Gojek, Foodpanda, JCDecaux, Decathlon, and various government agencies.
The company claims to have recorded a compounded annual growth rate of 128% over the past four years. It is also closing in on a half a billion customer interactions processed annually across 17 markets in Asia Pacific.
The startup disclosed its expansion plans, which include establishing presence in the Philippines, after it raised an additional $5 million in its Series A round, which brings the total amount raised in the said round to $10 million.
The extended round was co-anchored by Delivery Hero Ventures and Malaysia’s OSK Ventures International, with participation from Betatron Venture Group, a venture capital firm that invests in early-stage, Asia-focused companies.
“This funding extension is a strong show of confidence that we are on the right track and cements our position as the leading customer experience enabler built in Asia Pacific for businesses operating in the region,” said Thomas Laboulle, founder and CEO of Toku.
Aside from tapping on the new funding to further expand its footprint in Asia, Toku said it will continue to invest in innovation and technology to reimagine holistic customer experience for the digital-first economy. This includes unifying customer experience and employee experience into an all-in-one platform to fuel personalised customer journeys for businesses in APAC.
“As the APAC digital economy continues to mature, customer experience has emerged as a key differentiator and a major driver of value for businesses,” Laboulle added.
The article discusses Singapore-based cloud communications startup Toku, which has raised $5 million in a Series A funding round. The funding will support its expansion into the Philippines, aiming to offer enhanced solutions for customer communication and engagement. Toku’s services include cloud telephony and messaging tailored for businesses to improve operational efficiency. The Philippine expansion reflects Toku’s strategic growth in Southeast Asia.
This is great news for Toku and the cloud communications space! It’s impressive to see how the company raised an additional $5 million in funding and plans to expand further into Southeast Asia, including the Philippines. Their strong growth and focus on improving customer experiences through AI-powered solutions show how committed they are to innovation. Expanding into new markets is a big step, and it’s exciting to watch how Toku is building its presence across the region. I’m also glad to see experienced leaders guiding their journey. Looking forward to seeing how Toku will continue to grow and evolve!