- SleekFlow raises $7M for Asian social commerce AI expansion
- Company’s revenue grows from $2M to $9M in 18 months
- Startup capitalizes on booming social commerce market in Asia Pacific
Chat-ching!
SleekFlow, the Singapore and Hong Kong-based social commerce platform, has bagged an additional $7 million in funding.
The startup plans to use this cash injection to enhance its conversational AI suite, deepen its presence in Southeast Asia and the Middle East, and expand into Europe.
This move capitalizes on the booming social commerce market in Asia Pacific, expected to reach $894 million by 2028.
AI-Powered Shopping Spree
The company’s success rides on the rapid growth of social commerce, where sellers leverage platforms like Facebook, Instagram, and TikTok to reach customers.
SleekFlow’s AI-driven chat functionality allows sellers to scale customer service efficiently, offering features such as omnichannel capabilities, marketing automation, and a user-friendly flow builder for personalized customer interactions.
Numbers Game
SleekFlow’s financials paint an impressive picture. The company’s annual recurring revenue has skyrocketed from $1-2 million in December 2022 to $8-9 million in June 2024. Its global customer base has grown by over 5,000, and the team has expanded from 60 to 160 employees.
This growth trajectory positions SleekFlow as a formidable player in the conversational AI industry, projected to hit $49.9 billion by 2030.
