Base.vn, a leading Vietnamese SaaS platform, recently announced it raised an undisclosed amount in funding from Nextrans - one of the venture capitalists from Korea.
Nextrans was known to invest in around 60 companies in the world, with more than approximately $400 million in funds, mostly in US and Korea. In Vietnam, Nextrans was the investor in Luxstay, Jamja or EcoTruck.
Prior to Nextrans, Base had already raised US$1.7 million in the pre-Series A round by 4 other CVs namely Beenext, Alpha JWC Ventures, VIISA and 500Startups.
Nextrans reviewed 600 companies in different sectors for 2 years and 10 more "enterprise based solutions" since solution for enterprise market is quite fragmented operation or totally high cost for international solutions like SAP - Especially, HR Solution for SME globally became unicorn or IPO in US, Thailand like Gusto(Zenpayroll) and SunFish(Indonesia and licensing to Thailand. Base team is really "tech and product oriented" for making a perfect and "all-in-one" solution for enterprise to capture and move to SEA easily since they develop "high qualified product" for enterprises, said Mr.Chris – director of Nextrans.
“After acquiring largest enterprise customers, this is the best assets for making other key solutions for nurturing ecosystem for employees and employers including "fintech, benefitial services, inhouse marketplace, MRO, etc."
Developed since 2016, founded by Stanford University alumni Pham Kim Hung, Base.vn is the first SaaS (Software-as-a-Service) platform in the region that helps enterprise streamline activities with noticeable applications: Base E-hiring as an Applicant Tracking System, Base Wework as a Task and Project Management Platform, Base Request as an Internal Request Management.
Base applications have been used daily by more than 1000 customers in Vietnam in different industries including Banking-Finance, E-commerce, F&B, Education with leading corporates: VIB, ACB, ABBank, VinCommerce, McDonal’s, 7eleven, Pizza 4P, The Coffee House, Decathlon.
“Our ultimate goal is to bring the quality products that have great impact and values in enterprises’s growth. Fundings from experienced investors in the region mark the important milestone in the development of Base.vn. But the more important things are the values we can generate towards our customers”, said Base Co-founder and CEO Hung Pham.
“What Base attracts investors are the resilience and perseverance from every member in company towards our mission that we set in the early stage” said Mr.Hung, “not because of our experience in raising funds or negotiation”.
Base said that in late 2019, Base would raise the next round of funding. In this round, Base aims for international investment funds with extensive experience in SaaS to work with company to become the leading SaaS platform in the region.
“In order to get the rainbow, you must be able to deal with the rain- which are our mistakes, non-stop effort. From the pre-Series A till now, Base has grown 10 times and been able to maintain healthy financial indicators. We need strategic investors who can share the vision and orientation of the company in the long run, going beyond the sole purpose of financial investment. Our investors in Base now have already shared their willingness to join in the next rounds with us”, said Mr.Hung Pham – CEO Base.vn.