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SleekFlow Raises $7M for Global Expansion of Its Conversational AI | Microsoft generative ai tools | Generative ai google login | Generative ai use cases | Turtles AI

SleekFlow Raises $7M for Global Expansion of Its Conversational AI
SleekFlow targets Southeast Asia, the Middle East, and Europe with new funding to enhance its conversational AI suite, reshaping social commerce.

Highlights

  • SleekFlow raises $7 million to expand its AI technology and penetrate new markets.
  • Social commerce in Asia-Pacific is growing rapidly, with a market projected to reach $894 million by 2028.
  • Conversational AI is essential for scaling customer service efficiently.
  • SleekFlow stands out with omnichannel capabilities and marketing automation, with planned expansion into Europe and the Middle East.

 

SleekFlow, the Singapore and Hong Kong-based social commerce platform, has secured $7 million in funding to expand its conversational AI suite, targeting Southeast Asia, the Middle East, and Europe. The strategy includes integrating new voice features and a focused global expansion.

 

SleekFlow, a social commerce platform focused on Asian markets, recently announced a new $7 million funding round. The investment, led by Seoul-based venture capital firm Atinum Investment and supported by existing investors, will be used to further develop the company’s conversational AI technology and accelerate its expansion into emerging markets in Southeast Asia, the Middle East, and Europe.

Social commerce, a rapidly growing phenomenon, involves sellers leveraging social platforms like Facebook, Instagram, WhatsApp, and TikTok to promote and sell products, while consumers use the same channels to discover and purchase goods. With growth outpacing traditional e-commerce, the social commerce market in the Asia-Pacific region is expected to exceed $894 million by 2028, with an annual growth rate of 10.6% from 2022.

 

Within this expanding landscape, conversational AI plays a key role, allowing sellers to scale customer service without overloading their operations. This approach also adds a programmatic layer to interactions, offering detailed analytics to better understand what strategies work, when, and on which audiences. The conversational AI industry is projected to reach $49.9 billion by 2030, with an annual growth rate of 24.9% compared to $13.2 billion in 2024.

SleekFlow differentiates itself in the competitive conversational AI market with a series of optimized features. Among these are omnichannel capabilities, allowing marketing across multiple platforms from a single dashboard, marketing automation, and an intuitive flow builder that offers flexibility in creating personalized chat experiences for each customer. Other features include in-chat payment links, team collaboration functions, CRM platform integrations with HubSpot and Salesforce, and e-commerce functionality.

 

SleekFlow’s CEO and founder, Henson Tsai, emphasized that the goal is to further expand the platform by introducing new offerings to fully automate sales and support processes through voice, calls, and email. This development has been accelerated by the appointment of the new Chief Technology Officer, Gao Lei, a Silicon Valley veteran with over two decades of experience in AI and big data. Gao Lei’s appointment has allowed SleekFlow to intensify its engineering efforts to stay at the forefront of innovative and advanced technologies.

SleekFlow operates on a multi-tier SaaS business model, with an additional option for customers who want to set up and manage a WhatsApp Business messaging channel. The company targets sales and marketing teams and is used by businesses of various sizes, from small teams to large enterprises, in the insurance, healthcare, telecommunications, and retail sectors. Its clients include Hong Kong Broadband Networks (HKBN), Delonghi, online furniture company Cellini, and Malaysian home appliance maker Khind.

 

The platform is currently operational in Singapore, Hong Kong, Malaysia, Indonesia, Brazil, and the United Arab Emirates. According to Tsai, consumer behavior in Indonesia, which is projected to become one of the largest consumer markets by 2030, is rapidly shifting toward online shopping over traditional brick-and-mortar stores. Additionally, high spending power in Saudi Arabia and the UAE makes these regions particularly promising for social commerce.

SleekFlow has raised a total of $15 million to date, with its annual recurring revenue (ARR) reaching $8-9 million as of June 2024, compared to around $1-2 million in December 2022. The company’s team has grown from 60 to 160 members, and its customer base has increased by over 5,000 globally.