SleekFlow founder and CEO Henson Tsai
Singapore-based SleekFlow provides an omnichannel conversational AI suite. An all-in-one platform, it enables businesses to craft “seamless”, personalised customer journeys across popular messaging channels like WhatsApp, Instagram, live chat, and more.
Last month, SleekFlow raised US$7 million in a Series A+ round led by South Korean VC firm Atinum Investment to fuel global expansion and advancements in AI technology.
e27 spoke with SleekFlow’s founder and CEO, Henson Tsai, to learn more about its products and expansion plans
What specific factors attracted Atinum and other investors to SleekFlow? What is the synergy here?
Our core product, the omnichannel conversational AI suite, should be one major factor. Conversational AI is a high-ceiling market ready to scale internationally, and it is in demand across industries, whether for sales, support, or marketing.
Besides, among our counterparts, SleekFlow is one of the Series A startups present globally and has set up international offices across different countries, including Singapore, Hong Kong, Malaysia, Indonesia, the UAE and Brazil.
Atinum Investment invests in growth-stage startups in sectors like deeptech and healthcare. It has backed some famous startups in Asia, such as the ride-hailing giant Gojek and the travel platform Klook.
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Their Atinum Growth Investment Fund 2023, with US$624 million, aims to allocate 15-20 per cent of this fund to international investments, with approximately 70 per cent of that going to Southeast Asian startups.
As we have already expanded into Southeast Asia, we can see the synergy in our business strategy for global expansion.
With this new funding round, SleekFlow has raised a total of US$15 million. How will the additional funds be allocated between global expansion and AI tech innovation?
The new round of funding will accelerate SleekFlow’s global expansion plans, including further penetrating Southeast Asia (SEA) and the Middle East and tapping into European countries.
Funds will also be invested in AI tech innovation (including analytics and building marketing flows) and channel expansions (including calls and emails) to better serve our growing customer base worldwide.
Could you elaborate on your strategy for entering new markets like Southeast Asia, the Middle East, and Europe? Which regions are you prioritising? Are there any specific partnerships or collaborations in these new markets that you’re exploring to facilitate your expansion?
Taking the Middle East as an example, we started tapping into the market solely through digital marketing channels, as we had inbound leads from the very beginning.
Then, we started investigating the market and trying to verify it, and we assigned a market launcher from Hong Kong to fly to Dubai to start building good use cases with customers on the ground.
We saw good tractions from local big retailers and successfully built the very first good use case with the reputable L’Occitane brand under the Chalhoub Group, subsequently kicking off SleekFlow’s market expansion into the Middle East.
How important is localisation in your global strategy, and how do you approach it?
Localisation is crucial in our global strategy for many reasons. One vital strategy in our localisation approach is by tailoring our products and services.
Different regions have unique preferences and needs. Therefore, we need to resonate our products with local markets as well as build trust and engagement with customers. Our approach to localisation includes:
- Adapting to the local languages of the markets.
- Having customised offerings (from sales services and products to customer support) tailored to each market.
- Setting local team support for customers and collaborating with local businesses and influencers to enhance credibility and reach.
Another vital step in localisation that we are undertaking is being locally relevant for better market penetration.
For example, in the UAE market, we focus on understanding ways to cater to retail, as there’s a huge demand for enhancing a smooth retail-to-online shopping experience. In Indonesia, social commerce is booming, so we work with more e-commerce businesses there. By prioritising localisation, we aim to foster deeper connections with customers worldwide.
You mentioned planning a Series B Fundraising in the next 12 months. What milestones do you aim to achieve before this next round of funding?
Some important business metrics include achieving ~ a 100 per cent revenue increase and increased ARPU (average revenue per user) by building more advanced features.
SleekFlow plans to offer fully automated sales and support journeys in voice, calls, and emails. How will these innovations improve customer engagement across different industries?
SleekFlow’s fully automated sales and support journeys in voice, calls, and emails improve customer engagement across different industries. Businesses can further improve customer engagement through:
24×7 availability: AI Automation allows companies to engage with customers at any time, which is particularly beneficial for industries like e-commerce, healthcare, and travel, where customers may need support outside regular business hours. This leads to higher customer satisfaction and a more personalised experience.
Improved efficiency and scalability: By automating repetitive tasks such as answering FAQs, booking appointments, or processing orders, businesses can handle a higher volume of interactions without compromising on quality. This is crucial for industries that experience high demand, like retail or tech support.
The conversational AI market is projected to grow significantly in the coming years. How does SleekFlow differentiate itself from competitors in this rapidly expanding market?
Our conversational AI solution is built for companies of all sizes to leverage AI on a daily basis. On average, SleekFlow users use the platform around four hours per day, reflecting its vitality as part of the business.
Also, compared to our competitors, we have a stronger international presence and support wider markets. Our product is ready for a wider use case globally with localised integrations.
With the conversational AI market expected to reach US$49.9 billion by 2030, how do you see the customer engagement landscape evolving?
Taking the US as an example, in the past, shopping mostly happened on a platform. This has evolved with more shopping actions (booking, making an appointment, purchase) facilitated through conversations, no matter which messaging channels are used. This is how the customer engagement landscape will evolve.
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As AI technology becomes more sophisticated, businesses will increasingly leverage AI-driven tools to create personalised, responsive, and seamless customer experiences across multiple touchpoints. We are expecting some key developments in the customer engagement landscape, which include;
Omnichannel engagement: With the rise of conversational AI, customer engagement will become more integrated across various platforms—social media, chatbots, voice assistants, and even in-store interactions. Customers will enjoy a consistent experience regardless of how they choose to interact with a brand.
In 2022, SleekFlow’s platform enabled 32 million WhatsApp messages for over 5,000 customers across seven countries, boosting sales converted with chat by 3x. This only proves that businesses are increasingly embracing the growth of omnichannel engagement due to the overall transaction experience and the ROI of the business.
Human-AI operations/synergy: While AI will handle routine queries and tasks, human agents will focus on more complex and emotionally charged interactions. This mode of operation/synergy will elevate the quality of customer service.
AI requires training. To continuously improve AI, it requires a lot of data and integrations. SleekFlow’s software is an omnichannel suite with high integration flexibility via the Flow Builder feature, which fosters AI training.
In the future, SleekFlow will continue to serve as the backbone for all merchants’ conversational workflows, enabling an end-to-end purchasing cycle—from booking appointments to purchasing.
What are the key challenges you anticipate as SleekFlow expands globally and continues to innovate?
As SleekFlow expands globally, we’re anticipating some key challenges that include;
Resources/logistics management: Scaling operations globally demands efficient resource allocation in vital areas such as workforce management, logistics, and tech infrastructure.
Talent acquisition: Finding and retaining skilled talents in new markets can be competitive and challenging.
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Image Credit: SleekFlow.
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