Singapore-based SaaS email marketing companyhas raised close to US$1 million in a pre-Series A round led by ‘s venture arm .
It will use this newly-raised capital to expand into Indonesia with the opening of an office in Jakarta. Ematic Solutions will also actively recruit a customer success team to work with Indonesian companies, and speed up product development and R&D.
Just three months ago, it raised US$1.1 million inled by Wavemaker Partners, 500 Startups and Convergence Ventures. This puts its total amount raised at US$2 million.
An official press release cites the rapidly growing Indonesian e-commerce market, which grew by 65.6 per cent and hit US$5.29 billion in sales this year, as the key factors behind the expansion.
Since late 2015, Ematic Solutions has already been working e-commerce retailers in Indonesia such as fashion e-store Berrybenka and lifestyle marketplace Bobobobo.
“Our Jakarta office will be able to provide digitally-driven companies the tools to modernise how they reach their customers, with lower investment and higher return,” said Paul Tenney, Founder and CEO of Ematic Solutions in an official press statement.
“As the war on online shopping intensifies, the need for good marketing exacerbates. Japanese internet giant Rakuten, for example, recently closed down its e-commerce marketplaces in Singapore, Malaysia and Indonesia. This puts more pressure for marketers to increase their ROI of their marketing campaigns,” read the official press release.
Ematic Solutions says it sees email marketing contributing 25 per cent to 35 per cent of the sales for e-commerce clients.
Later this year, it will raise a Series A round to accelerate growth.
Attributed to Yon Heong Tung
Disclaimer: Ematic Solutions is a portfolio company of Convergence Ventures