Singapore-based cloud communication API provider Wavecell has raised a Series A investment of S$2.3 million ($1.6 million) led by Qualgro Asean Fund, to enhance its technology platform and regional expansion.
The investment round was also participated by Wavemaker Partners.
In a statement, Wavecell said the funds will be used to strengthen its proprietary technology platform and broaden its product offering range.
The company is also planning to expand its presence in Asia Pacific by scaling up the sales and marketing teams and opening local offices in countries such as Hong-Kong,Thailand and Indonesia.
Wavecell co-founder and chief executive officer Olivier Gerhardt said: “We are thrilled to have very supportive venture capitalist who have made the choice to trust Wavecell that invests in the future of real-time enterprise-to-consumers communications to meet the growing demand for SMS & Visual interaction services in Asia, especially Southeast Asia.”
Qualgro Asean Fund partner Heang Chhor commented that the firm chose Wavecell because of the great team they have built for the business.
“(They) are well positioned to address the growing need for A2P SMS, chat and video communications, which enables organisations from enterprises to startups, to engage seamlessly and at lower costs, with their customers across Southeast Asia. We would like to help grow Wavecell into a strong regional leader,” he said.
Wavecell helps enterprises and application developers to communicate efficiently with their customers over SMS, voice, chat and video within their existing products and services.
It does this by providing a complete set of developer tools and web-based interfaces that can be used seamlessly in any communication use case.
Established in 2010, Wavecell, has thus far been self-funded, growing its business with a team of 10 to more than 500 active enterprise customers across an extensive range of industries such as e-commerce, telecommunication, digital marketing and CRM platforms, finance, insurance and transportation.