Marketing technology, or Martech, is a growing industry that includes various innovations for the advancement of companies through tools that help provide growth. Many of the martech startups Southeast Asia is home to are promising companies offering different platforms that facilitate marketing and promotional activities for SMEs, larger multinational companies, and their partnering firms.
This fast-growing industry supports powerful leverages in digital marketing and technology. The top martech startups in the region are an essential piece of the puzzle for many firms looking to advance their marketing goals.
Offering smart shopping options and rewards for consumers, ShopBack, founded in 2014, brought 10,000 of its partner merchants around USD $3.5 billion in sales in 2021. It grants a more seamless shopping experience, giving customers financial flexibility and convenience through discounts and cashback on online purchases.
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A Series F funding round in June 2022 brought in USD $80 million to help the company expand its products and consolidate its position in the APAC region. Asia Partners led the round, with previous investor January Capital also participating.
Shopback recently entered the Hong Kong market and has plans to scale up its operations in Australia, Taiwan and Thailand. The startup enhances the shoppers’ experience through multiple touchpoints, buy now pay later options, and various payment options.
The Singapore-based marketing tech firm, Insider, one of the few female- ed software as a service (SaaS) companies in the world, announced in March 2022 its receipt of USD $121 million in a D series funding round led by the Qatar Investment Authority.
With many other investors also pitching in, the additional capital will allow for rapid global expansion, technology enhancements, international sales, and marketing investments. The company also plans to create more than 2,000 new jobs with its expansion into the US market.
Its artificial intelligence technology allows marketers to connect customer data and predict consumer behaviour. Insider works with over 1,000 marketing teams, including those at Samsung, GAP, IKEA, MAC and Vodafone. Its highly personalised results value both audiences and businesses.
Starting in Singapore as an online community and content platform for parents, Tickled Media has expanded to become a martech powerhouse and rebranded as The Parentic. The startup announced in April 2022 that it raised USD $22 million in series D funding, with East Ventures taking the lead on the investment. WGH Holdings and Central Retail Corporation also participated in the funding with other undisclosed investors. This capital injection comes not long after LINE Corp became a shareholder in March 2022.
The company reaches over 30 million monthly users through 11 languages in Southeast Asia, runs four publishing brands, and plans to launch a range of maternity and baby products, projected to be worth USD $16.78 billion by 2025.
Using blockchain technology to verify that every click is authentic, ReverseAds also helps companies meet major data privacy regulations and create more precise and targeted campaigns. Its innovative algorithm identifies keywords based on past clicks, searches, likes, and follows, while staying within GDPR, CASL, and CCPA guidelines.
A new partnership with Choco Up, to the value of USD $600 thousand, will allow ReverseAds to grow throughout APAC, Europe, and the US. This collaboration will provide companies with a flexible funding solution while boosting their metrics and assisting growth and scale-up. The startup works as an alternative to third-party cookies and bridges the gap using Big Data, AI, and predictive modelling. The company’s monthly revenue has grown by 500% in the past year, and with the new markets, it is likely to continue this upward trajectory.
The AI-powered marketing platform, Saleswhale, was recently acquired by the US-based company 6Sense, but it will continue to operate as an independent entity. With 6Sense currently worth around USD $5.5 billion, the future bodes well for its newly purchased subsidiary.
Saleswhale utilises AI to write personalised emails, engage in conversations with consumers, and detect when a buyer shows interest in a product, prioritising accounts for sales and marketing. After the pandemic, Saleswhale created a roadmap to boost its revenue and turn the company around. In doing so, they onboarded their biggest clients due to product specialisation. It is looking to hire engineers, product managers, and product designers in Singapore and India, creating more opportunities and jobs throughout the company.
These top martech startups bring value-enhanced opportunities to both companies and consumers. The rise in popularity of martech and the use of these innovative tools will speed up the new digital age in marketing. Data-informed growth is particularly important when companies seek to expand their customer growth. The prominent martech startups Southeast Asia is producing are amongst the best in the industry and have much potential for continued success.