Eko Communications, a Bangkok, Thailand-based technology startup that operates a messaging app targeted at businesses, received an investment from Itochu Corporation of Japan.
The amount of the strategic investment was not disclosed. According to a written note, the deal brings the total amount invested into Eko’s products and people to well over US$10M, before a planned Series B round in 2018, including a previous total funding of US$6.7m in rounds led by 500 Startups and Gobi Partners.
The company intends to use the funds to accelerate its global growth.
Founded in 2012 by Korawad Chearavanont, Eko provides a mobile-first communications platform for enterprises. Within the last 12 months, the company’s monthly recurring revenues have grown by 630%, and paying active users have also grown by 230%. While it still counts Thailand as its largest market, Eko expects the U.S., Chinese, and U.K. markets to become its largest markets, respectively, within the next several months. Clients currently include 11 corporations with market values exceeding US$2 Billion, as well as hundreds of other smaller companies spread across dozens of countries. Eko now has over 150,000 recurring paid user licenses.