Buoyed by increased service demand amidst the pandemic, Cyberport companies Klook, Lynk, and the International Compliance Workshop (ICW) snapped up new funding to propel their growth streak past COVID, marking an auspicious start to 2021.

Klook raises US$200M to fuel its new SaaS solution roll-out

Cyberport alumni Klook led the series of good news by closing a Series E round and raising US$200 million in capital.

The funding round was led by Aspex Management, an APAC-focused investment fund, and other new investors. Also participating were Klook’s existing investors (Sequoia Capital China, Matrix Partners China, and Boyu Capital), which had invested in Klook’s Series D round, and Softbank Vision Fund 1.

Although the pandemic has ravaged the travel and hospitality industry, Klook has met the challenge by capitalising on the demand for domestic experiences and by launching new verticals, such as staycations and car rental. It has also forged stronger partnerships with tourism boards in key markets (Hong Kong, Japan, Korea, Singapore, Thailand, etc.) to diversify offerings and boost domestic demand. As a result, Klook onboarded 150% more new activities on the year and lifted bookings back to near pre-COVID levels.

Keeping an eye on the horizon, Klook plans to use the fresh capital to speed up the development and roll-out its SaaS solutions, which are already being used by more than 2,500 merchants worldwide. Klook hopes to enable more merchants to transform digitally with its SaaS solutions and to engender greater prospects for all in the digital new normal.

Lynk bags US$24M to bolster its North American business

Lynk, Asia’s leading AI-driven Knowledge-as-a-Service platform, has added US$24 million to its war chest.

The funding round was led by Brewer Lane Ventures and MassMutual Ventures and included participation from its existing investor, Alibaba Entrepreneurs Fund.

Lynk has seen demand for its core SaaS offering, Lynk Answers, that spike during COVID times. As companies and executives are unable to access in-person expert advice due to travel restrictions, many have turned to Lynk’s 840,000+ vetted global experts to obtain credible expertise, insights, and opinions to inform decision making, formulate strategies, and answer business questions.

“The use cases on Lynk Answers are piling up,” said Peggy Choi, Founder and CEO of Lynk. “It is exciting to see how our customers are pioneering these innovative solutions to seek, build, and share knowledge.”

With the new funding, Lynk plans to release enhanced knowledge management solutions in the coming months, grow its Product, Data, and Engineering teams, and expand its operations in North America to meet the overwhelming demand in the US.

ICW raises US$5.7M in a Series A+ round to ramp up its offerings

Good news also came from the International Compliance Workshop (ICW), the start-up behind the world’s first one-stop supply chain management platform. ICW announced that it has secured US$5.7 million in Series A+ investment.

The round was led by Infinity Ventures Partners, with participation from Integrated Capital and from its existing investors MindWorks Capital and the Hong Kong Government’s Innovation and Technology Venture Fund.

ICW will be using the new capital to enhance the technological capabilities of its compliance management system and product testing platform. It also plans to integrate additional features with its B2B sourcing platform, iSource.

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