Cloud communications provider Toku completes $5m Series A funding

The Singapore-based company said it will use the funding to enhance its product capabilities and coverage.

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Toku

Toku, Asia Pacific’s only dedicated cloud communications provider, announced that it has raised $5 million in its Series A funding round led by Delivery Hero-backed DX Ventures, with participation from existing investors including Tembusu Partners and Neptune Invest Asia.

The Singapore-based company said it will use the funding to enhance its product capabilities and coverage, so it can further simplify digital transformation for the region’s businesses.

As much as 10% of IT budgets will be dedicated to cloud spending by 2023 as organisations adapt to the new post-pandemic normal. But for APAC businesses, a lack of organisational readiness and complex local regulatory frameworks make cloud migration a major headache.

That’s where Toku comes in, leveraging local expertise and a comprehensive cloud technology stack to enable fuss-free communication from anywhere on any device, as well as seamless integrations with existing business applications including Microsoft Teams, HubSpot and Salesforce.

The success of the funding round is recognition of Toku’s strong growth since 2018 and an understanding that online communication channels are only becoming more crucial to businesses – both for customer engagement and hybrid working.

It also underlines the belief among Toku’s backers in the company’s ambitious expansion plans, which involves new strategic partnerships and further development of its hosted contact centre (CCaaS) solution during the next 18 months.

The CCaaS offering is part of the next stage in Toku’s evolution, to build an all-in-one platform for all its customers’ communications needs incorporating CPaaS, UCaaS and CCaaS functionality, native telco connectivity and communication APIs.

“As the only native APAC player in our category, we’re committed to supporting the region’s businesses at every stage of the digital transformation journey with cloud solutions to drive customer engagement and support hybrid working,” said Thomas Laboulle, Founder and CEO of Toku.

The Series A round was led by DX Ventures, which identifies and supports the next generation of founder-led companies disrupting some of the world’s most rapidly changing industries.

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