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Technology Featured Southeast Asia

Klook bags US$200m funding for SaaS-powered merchant solutions

Kuala Lumpur, Malaysia – Travel and leisure booking platform Klook has successfully concluded its Series E round investment, led by investment fund Aspex Management. The recently concluded investment round has raised US$200M in additional funding, which will be used to develop Klook-powered merchant Software-as-a-Service (SaaS) solutions.

Klook’s merchant SaaS solutions power millions of bookings for more than 2,500 merchants worldwide. Doubling down on its SaaS solutions will enable even more merchants who have had a challenging year to transform and accelerate their business by easily creating an online storefront powered by Klook. This is supported by a backend engine that manages ticketing, distribution, inventory management, marketing, and more. 

“Despite a challenging 2020, we have shown our mettle, turning challenges into growth opportunities with agility and constant innovation. We’ve observed over the past year that consumers have a pent-up desire to explore and enjoy themselves, despite international travel being paused. Instead, they are turning inwards – exploring new and unique experiences right in their backyard,” said Ethan Lin, CEO, and co-founder at Klook (center).

He added, “This new capital further strengthens our leading position to take us from defense to offense, as domestic tourism becomes ubiquitous and international travel gradually returns.”

At the height of the pandemic, Klook onboarded 150% more activities compared to the same period in 2019. With this new capital, the company will accelerate the development and roll-out of its merchant SaaS solutions. Designed to bridge the gaps faced by merchants today, these tools will empower any merchant to build, manage, and scale their business with Klook.

“The travel industry has undoubtedly been hit hard by the pandemic, but Klook has shown resilience and adaptability despite the market headwinds. We believe the transition toward digital bookings will only accelerate post-COVID-19, and that Klook’s ability to reinvent itself as a one-stop-shop for experiences and services across the region puts it in prime position to capitalize on this trend,” said Hermes Li, CIO, and founder of Aspex Management.

Meanwhile, Eric Gnock Fah, COO, and co-founder at Klook (left) commented, “We are setting out to reimagine the next digital leap for the experiences sector which has traditionally been fragmented with offline practices or legacy systems that do not truly address the realities of a post-COVID world. Since day one, Klook has been working closely with our merchants, both big and small, to identify common pain points that we can solve together.”

He added, “With this new funding, we have additional ammunition to accelerate our technology innovation, and truly transform and empower this space for future growth.”

Klook has piloted several of its SaaS tools during the second of 2020 namely ‘Contact Tracing System’ which will be used to trace back clients should the need for tracing ensue, ‘Attractions Plus’ which creates an online itinerary for travel in one app, and ‘Klook! Live’ which is an interactive livestream mobile feature for merchants and users alike.

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Technology Featured East Asia

iClick launches new SaaS product for customer relationship management

Hong Kong – Online marketing and enterprise data solutions provider iClick has launched iSCRM, an off-the-shelf (standard) Software as a service (SaaS) enterprise management platform for daily operations and social customer relationship management.

iSCRM leverages the updated features of WeCom, Tencent’s communication platform for enterprises, to effectively attract new users and intelligently manage brands’ private traffic through the integration of the various functions on WeChat Mini Program, WeCom, and WeChat.

Furthermore, iClick’s new software product can be used for the following:

  • Track consumer actions touch-points within Tencent.
  • Establish real-time 360-degree consumer profiles through data analytics of consumer social behavior data and consumption information.
  • Provide purchase and frequency analysis and advising on data-driven personalized engagement strategies through the identification of active and high-value consumers to enhance consumer stickiness and loyalty.
  • Digitalizing sales management and evaluation in order to improve internal management efficiency and boost sales revenues.
  • Ensure consumer transfer to retain valuable consumers.

“I am very excited to announce the launch of iSCRM, iClick’s first standard SaaS product. This new solution equips clients with the latest smart tools that [integrate] and optimizes the various functions of Tencent’s continuously evolving ecosystem,” said Jian “T.J.” Tang, CEO and co-founder of iClick.

He added, “We believe iSCRM has great potential to enhance brands’ private domain traffic management and generate higher sales revenues. We will continue to develop leading edge products like iSCRM that empower brands to take advantage of the latest trends in the smart retail era and look forward to the contribution of such standard products to rapidly scaling up iClick’s sales revenue across our mid-tier client base.”