It is used by more than two billion people and is an important tool for small businesses. They might not be able to keep up with their needs as they grow. WATI is at that place. Customer sales and engagement tools have been built for the messaging app. The startup, which is based in Hong Kong and Malaysia, has raised $23 million in Series B funding.
The round was led by Tiger Global with participation from returning investors Sequoia Capital India & Southeast Asia, and new investors DST Global Partners andshopify, marking the e-commerce platform's first venture investment in a startup in the Southeast Asia region. WATI's last round of funding was an $8.3 million Series A announcement 10 months ago, and its new round brings its total raised to more than $35 million.
Bianca Ho and Ken Yeung started working together in 2016 to build a digital assistant. WATI was launched in 2020 to give a low-code product to small and medium-sized businesses. In 75 countries, the startup has more than 6,000 customers, including small and medium-sized businesses in places like house cleaning, schools, education centers, edtech, and medical facilities.
The assumption was that only larger enterprises had the resources to deploy a successful digital assistant. The two realized many of their clients were looking for a simpler solution so they created WATI. Many businesses rushed to get online due to the Pandemic.
The WATI was founded by Ken and Bianca.
In mature markets like Europe, and in emerging markets like India, it's the preferred communication channel. WATI works with non-technical businesses to scale their customer support and engagement.
Clients can send personalized notifications with WATI's customer engagement software. A collaborative team inbox is one of the features of the platform. It is possible to automate interactions through low-code tools. WATI has integrations with a lot of different platforms.
An example of how WATI is used is by a large e- commerce company. The company usually gets 60 to 100 messages a day from customers through WATI's team inbox, the majority of which come from its website'sWhatsApp chat, and sends about 30,000 messages per day when campaigns are active.
A edtech client has been using WATI for two years. They send 20,000 to 30,000 messages a day and use about 50 templates a month. WATI helps them get high-quality organic leads through a chat app.
WATI will use funding to hire and invest in low-code automation. There are go-to-market plans for emerging markets.
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