Toku, a provider of cloud communications, has increased the amount it has funded for its series A round by $5 million, bringing the total to $10 million.
Betatron Venture Group joined Delivery Hero Ventures and OSK Ventures International in co-leading the expansion.
Toku, a company with its headquarters in Singapore, provides a contact center platform, voice and messaging APIs, and the ability to make conversations on Microsoft Teams and Zoom.
Thomas Laboulle founded the firm in 2018, and during the last four years, including the forecasts for 2022, it has seen a compound annual growth rate of 128%.
In its 17 Asian-Pacific regions, Toku has already handled almost 500 million client contacts. Known businesses including Gojek, Lenskart, Decathlon, and JCDecaux are among its clients.
With the additional money, Toku plans to build a local presence in the following countries: Indonesia, Vietnam, Malaysia, Hong Kong, South Korea, and the Philippines. By 2024, it also intends to increase spending on technological research and advancements while increasing its personnel by half, to 200.
The financing comes at a time when the worldwide market for cloud communications is predicted to reach US$51.4 billion by 2023, growing at a pace of 19.8% CAGR.
