FOLLOW-ON INVESTMENT IN SLEEKFLOW

Transcend Capital Partners is proud to announce our recent follow-on investment in portfolio company SleekFlow, a Singapore- and Hong Kong-headquartered social commerce platform that enables businesses to deliver comprehensive customer engagement journeys across SMS, live chat on websites and popular social & messaging platforms.

This latest funding round raised USD7m for the company and was led by Atinum Investment, a Seoul-based VC firm, with participation from existing investors Transcend and AEF Greater Bay Area Fund, among others. 

In recent years, social commerce has transformed the retail landscape by merging social media with e-commerce, creating a dynamic shopping experience. Driven by the rapid growth of platforms like Instagram, TikTok, and Facebook, these sites have evolved from simple social networks into bustling marketplaces.

As consumers seek more engaging and convenient ways to shop, brands are adapting their strategies. Shoppable posts, live-streaming events, and genuine influencer collaborations have become essential, enabling users to discover and purchase products directly within their favourite platforms. A key element of this shift is the role of conversation; meaningful interactions between brands and customers build trust and significantly influence purchasing decisions. 

Emerging from this trend are omnichannel conversational AI platforms designed to empower marketers, sales teams, and customer service teams with powerful tools for engagement, personalized interactions, and streamlined communication across various channels. The industry boasts several players, with SleekFlow standing out as one of the fastest-growing providers. 

Founded in Hong Kong just five years ago, SleekFlow expanded rapidly into five additional markets, aided by a strong go-to-market (GTM) playbook that was developed over time. In established markets, they identified industries where their solutions were most compelling, leading to swift growth. For instance, in Hong Kong, they have built a robust portfolio of retail clients, while in Singapore, they focus on platform partnerships, and in Malaysia, they cater widely to the healthcare sector.
SleekFlow then ventured into newer markets with significant potential, particularly mobile-first economies with burgeoning e-commerce sectors and a strong emphasis on WhatsApp, such as Brazil. Recognizing the UAE's tech-savvy population and vibrant retail landscape, SleekFlow established a strategic partnership with Chalhoub Group, which manages over 400 brands, and quickly identified a successful use case with L’Occitane to implement their solution across the Middle East.

As the company has spent the two years since its last funding round in 2022 honing its GTM strategy, improving its unit economics and subscription metrics, and refining its mid-market to enterprise focus, it is well poised to capitalize on the growth momentum with this new fundraise. The funds will be allocated to further advance its AI technology and ramp up its penetration in Southeast Asia, the Middle East and Europe.