Total amount raised
$31.3 Millions
Latest funding date
10/1/2022
Location
WATI has successfully raised $23 million in a Series B funding round, with notable investors including DST Global and Surge. The platform offers a shared team inbox and chatbot builder using the WhatsApp Business API.
Keep reading to explore the intricacies of WATI's fundraising journey and the investors backing this innovative platform.
What Is WATI?
WATI, founded on January 1, 2020, is headquartered in Hong Kong. The company was established by Bianca Ho and Ken Yeung.
WATI is a SaaS platform that leverages the WhatsApp Business API to enhance customer communication. It offers tools like a shared team inbox and chatbot builder to facilitate real-time, personalized interactions.
With a team of 101-250 employees, WATI is dedicated to revolutionizing business messaging and customer engagement.
How Much Funding Has WATI Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Surge
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development and initial scaling of WATI's platform.
- Series A
- Amount Raised: $8.3M
- Date: December 2021
- Lead Investors: Peak XV Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial scaling and product development efforts.
- Series B
- Amount Raised: $23M
- Date: October 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the team and product, and expand into emerging markets like Latin America and Southeast Asia.
Total Amount Raised: $31.3M. Current Valuation: Not publicly disclosed.
Key Investors
- Tiger Global Management
- Details: Tiger Global Management is a leading global investment firm based in New York. It focuses on private and public companies in the internet, software, consumer, and financial technology sectors.
- Investment Focus Areas: Internet, software, consumer, financial technology
- Notable Investments: Facebook, LinkedIn, Spotify
- Sequoia Capital India & Southeast Asia
- Details: Sequoia Capital India & Southeast Asia is a venture capital firm that partners with founders across India and Southeast Asia. It provides funding and support to startups in various sectors.
- Investment Focus Areas: Technology, healthcare, consumer services
- Notable Investments: Byju’s, Zomato, OYO Rooms
- DST Global Partners
- Details: DST Global Partners is an investment firm that backs late-stage internet companies globally. It is known for investing in high-growth technology companies.
- Investment Focus Areas: Late-stage internet companies, high-growth technology companies
- Notable Investments: Facebook, Twitter, Alibaba
- Shopify
- Details: Shopify is a leading e-commerce platform that provides tools for businesses to create and manage online stores. This investment in WATI marks Shopify’s first venture investment in a startup in Southeast Asia.
- Investment Focus Areas: E-commerce, online retail tools and platforms
- Notable Investments: This is Shopify’s first venture investment in a startup in Southeast Asia.
- Surge
- Details: Surge is an accelerator program by Sequoia Capital India & Southeast Asia. It focuses on early-stage startups, providing them with funding and mentorship.
- Investment Focus Areas: Early-stage startups, technology, innovation-driven companies
- Notable Investments: WATI, Absolute, ADPList
What's Next for WATI?
WATI's future is brimming with opportunities, particularly in emerging markets like Latin America and Southeast Asia. With over 6,000 customers across 78 countries, the potential for growth is immense. The increasing use of WhatsApp for business communications and the integration with platforms like Zoho and Shopify further amplify this opportunity.
Given the rapid growth and recent successful funding rounds, WATI is well-positioned to attract additional investment. This will enable further scaling of operations and product development. However, challenges such as competition from other customer engagement platforms and navigating different regulatory environments in new markets could pose hurdles. Maintaining product quality and customer satisfaction will be crucial as WATI continues to expand.
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