SleekFlow, a social commerce platform based in Singapore and Hong Kong, has announced a new funding round of $7 million. The company specializes in developing a conversational AI suite tailored for the Asian market, with plans to expand its reach into Southeast Asia, the Middle East, and Europe.
This latest funding round highlights the rapid growth of social commerce, where sellers utilize platforms such as Facebook, Instagram, WhatsApp, TikTok, and YouTube to promote their products, while consumers use these platforms to discover and make purchases.
Social commerce is outpacing traditional e-commerce, with the market value in the Asia Pacific region projected to exceed $894 million by 2028, showing a growth rate of 10.6% since 2022. Conversational AI plays a significant role in the evolution of social commerce, allowing sellers to scale their customer service efficiently and gain valuable insights through analytics.
The conversational AI industry is expected to reach $49.9 billion by 2030, a notable increase from $13.2 billion in 2024. SleekFlow faces competition from various players in the market, but distinguishes itself through streamlined features, including omnichannel capabilities, marketing automation, and user-friendly chat interfaces.
With plans to expand its platform to offer automated sales and support across different channels, SleekFlow aims to provide exceptional value to its customers. The startup recently appointed Gao Lei as its new CTO, bringing extensive experience in AI and big data.
SleekFlow operates on a multi-tier SaaS business model and caters to sales and marketing teams across different sectors. The company has seen significant growth in revenue and customer base, with notable clients such as Hong Kong Broadband Networks, Delonghi, Cellini, and Khind.
Currently operational in several countries, SleekFlow has positioned itself to tap into emerging online consumer markets such as Indonesia, Brazil, and the UAE. The latest funding round was led by Atinum Investment, with participation from existing investors like AEF Greater Bay Area Fund and Transcend Capital Partners.
While SleekFlow did not disclose its valuation, the company has shown substantial growth in revenue, staff size, and customer base. With a focus on innovation and advanced AI technology, SleekFlow aims to stay at the forefront of the social commerce landscape.
