Wavecell, a full CPaaS player headquartered in Singapore surpassed +100% YoY revenue growth 3 years* in a row and is set to expanding more communication channels to boost digital customer experience.
How Much We’ve Grown
Wavecell was one of Asia’s pioneer cloud communications company to sprout in Singapore back in 2010. Since then, the company has been at the forefront of the go-to cloud communications solutions provider mainly in Southeast Asia; loyally serving Asia’s largest E-commerce and several Fintech players. Wavecell is excited that they are steadily approaching an annual revenue run rate of US$35 million and reaching profitability.
“We like to ensure a healthy and steady growth for Wavecell. This growth strongly illustrates a strong demand and thirst in the market for our solutions. As companies strive to elevate their customer experience and engagement over multi-channels in the digital era, we have been seeing a huge demand pouring in and we’re working harder than ever,” shared Christophe Riccardi, COO, Wavecell.
Achieving Hypergrowth, Continuing to Accelerate
As of end-2017, there are 2.7B unique mobile users in Asia-Pacific which makes up two-thirds of the region’s population. The smartphone adoption rate is also projected to increase to 3.9B by 2025, from 2.5B in 2017. Besides SMS API and Video Interaction, Wavecell expands their product range to also include Chat Apps API and Voice solutions to be offered in one solidified, central platform.
“With strong partnerships with telecom operators in the region, we believe that we are well positioned to outperform the CPaaS market in APAC. Furthermore, we are also continuing to attract new customers and are excited to bring new innovative products such as our new Video Interaction product, that’s applicable to the global market,” shared Olivier Gerhardt, CEO & Co-Founder of Wavecell.
Fast and efficient communication solutions are becoming increasingly critical as businesses seek to improve their communication output to their users. Therefore, more communication channels and available options allow businesses to optimise their business operations without having to spend time and effort in building the infrastructure of their own from scratch; everything is handled for them by Wavecell.
Some Interesting Outlook of Chat Apps API
For its Chat Apps API, Wavecell has been selected as an official WhatsApp Business Solutions Provider and Google RCS Messaging Partner in the first half of 2018. “We have received many queries from our customers seeking to create new conversational experiences with Chat Apps channels; the interest in the region is overwhelming. Wavecell’s product range and platform continues to grow each year and we are proud of what we have built, and we will continue to expand our offerings to serve our customers better,” said Gerhardt.
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Be Informed: Huge potential in the Asian Market
The Southeast Asia e-commerce market is projected to grow from $11B (2017) to $88B (2025), bringing huge potential revenue for the cloud communications industry Wavecell operates in — about 35% of smartphone users in Indonesia, Thailand and Vietnam purchase their goods on their mobile, and therefore would require message notifications (SMS and/or Chat Apps).
Indonesia, a market in which Wavecell has a stronghold in, is forecast to overtake the United States as the world’s third largest smartphone market by end-2018 (behind China and India). The company is also steadily growing its market base in Malaysia, Thailand, Vietnam, Hong Kong, Japan and the Philippines.
*Wavecell’s revenue growth from 2016 to 2017 was more than 100% and 2017 to 2018 is beyond 130%.