Singapore-based SaaS email marketing company Ematic Solutions has raised US$2.4 million, completing its Pre-Series A round. Walden International, as well as existing investors Wavemaker Partners, MDI Ventures and Convergence Ventures took part in this fresh funding.
Ematic will use the newly-raised capital to accelerate market expansion, recruitment and product development.
“Our growth is tripling year-on-year, and since October 2015 monthly recurring revenue (MRR) has continued to double every six months. We have also completed our first year of market expansion in Southeast Asia – Indonesia, Thailand, Vietnam, Malaysia and the Philippines – and our staff has more than quadrupled from 20 in early 2016 to more than 80 now,” said Paul Tenney, CEO and Founder of Ematic.
Ematic is also in talks with several investors to raise a Series A round. Once raised, the funding will be used to enhance Ematic’s product suite with a stronger mobile offering, and build out a highly scalable self-service model for the platform.
To date, Ematic has raised a total of US$4.4 million.
Founded in 2012, Ematic uses a series of algorithms to analyse subscriber behaviour to deliver optimised email marketing campaigns.
Ematic’s AI can adjust each user’s mailing frequency to optimise for performance. This reduction in noise in the email inbox usually leads to an increase in engagement rates and email revenue for many APAC brands.
Original article here by e27
Attributed to Yon Heong Tung
Disclaimer: Ematic Solutions is a portfolio company of Convergence Ventures