In an official press release, Wavecell said it will use the newly-raised funds to strengthen its proprietary technology platform, broaden its product offering range.
It will also expand its presence in APAC by scaling up the sales and marketing teams and opening local offices in such countries as Hong-Kong, Thailand and Indonesia.
““We have chosen Wavecell as they have built a great team and 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,” said Heang Chhor, Partner at Qualgro Asean Fund, in an official statement.
Qualgro Asean Fund is a venture capital fund investing in Southeast Asia and the Asia Pacific region. The fund invests in technology and digital-based businesses (marketplaces, web services, P2P platforms, C2C platforms), in SaaS-based business models, as well as in education and healthcare.
Founded in 2010 with a bootstrapped team of 10, Wavecell provides Cloud Communication APIs that help Enterprises to integrate multi-channel communication capabilities into their products and services.
Wavecell’s customers can enable SMS, voice and video in their mobile and web applications to support global communication use-cases.
It currently has about 500 enterprise customers in sectors such as e-commerce, telecommunication, digital marketing and CRM platforms, finance, insurance and transportation.