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Friday, December 2, 2022

WhatsApp’s customer engagement platform secures $23 million in funding

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WhatsApp Team Inbox (WATI) has secured $23 million in funding. In line with the revenue growth, the company is looking to raise the India headcount by 30%.

Hong Kong-based WhatsApp chatbot startup, WhatsApp Team Inbox (WATI) has secured $23 million in a Series B round of funding

Tiger Global led the round in which current investor Sequoia Capital participated along with news investors:  Shopify, and DST Global Partners.  The round comes after an $8.3 million series A round of WATI 10 months ago.

The company said it has secured $35 million since 2020. WATI’s clients include Indonesia’s Gojek, Singapore’s, Indian startup Dukaan, in addition to Bytedance’s Tiktok, and Oppo.

WATI claimed in a statement that it has the most personnel across departments in India.

“The firm intends to boost the India staff by 30% in accordance with the company’s worldwide sales growth,” it stated.

Bianca Ho and Ken Yeung created WATI in 2020. The company enables businesses to deliver personalized messages to their clients and assists them in utilizing WhatsApp Business as a marketing tool.

Bianca Ho, co-founder WATI, said, “WATI has had an amazing 2022, culminating with this latest funding round. We expanded our product with more automations, transforming it into a seamless digital tool that is a must-have for any organization. We used a vertical strategy, building connectors and partnerships with Zoho, Shopify, and Google Sheets, among others, to assist scale growth and refine the product.”

The corporation operates in 78 countries, with India being its largest individual market.

Ken Yeung, co-founder of WATI,  said, “Approximately 40% of Meta’s worldwide advertisers – over 4 million businesses – utilize click-to-message advertisements, which route consumers from Facebook or Instagram into one of Meta’s messaging products to speak with a company. WATI is well positioned to meet this demand and beyond.”

The company will use the additional funding to continue to grow the team and invest in the product stack for low-code automation, enabling greater usage of digital tools.

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