Cloud communication startup, Toku grabs $5M Series A+ for APAC expansion

Acquah Nana Yeboah -

Singapore-based cloud communications provider, Toku, has announced the close of its $5 million Series A extension round, bringing its total funding to $10 million.

  • The round was co-led by Delivery Hero Ventures and Malaysia’s OSK Ventures, with participation from Betatron Venture Group.
  • Founded in 2018 by Thomas Laboulle, Toku creates bespoke cloud communications and customer engagement solutions. This means calls and texts are powered by the internet and are cloud-based, allowing more affordable and reliable international calls and texts.
  • Toku says it helps businesses overcome the complexity of digital transformation in APAC markets and enhance their customer experience with mission-critical cloud communications solutions.
  • The cloud communications startup claims to have recorded a compound annual growth rate (CAGR) of 128 per cent over the past four years. Toku said it has processed almost half a billion customer interactions across 17 markets in the APAC region.
  • The startup works with leading regional brands, such as foodpanda, Gojek, Lenskart, Decathlon, and JCDecaux.
  • Toku said it will use the funds to expand across the Asian Pacific region and establish its presence in Malaysia, Indonesia, Hong Kong, Vietnam, South Korea and the Philippines. It also plans to increase its workforce to 200 by 2024.