Singapore-based digital marketers' growth management platform, Insider, has raised a $32 million in Series C round led by Riverwood Capital along with the contribution from Sequoia India, Endeavor Catalyst, and Wamda.
The startup plans to use the raised funds to launch its award-winning platform in the US alongside the capital will also be used to further enhance the platform's capabilities, add top-tier engineers to its exceptional R & D team, and invest in the startup's global marketing and sales efforts. The recently raised funds have touched the mark of $42 million in total funding so far.
In 2012, Hande Cilingir, Arda Koterin, Muharrem Derinkok, Mehmet Sinan Toktay, Okan Yedibela, and Serhat Soyuerel founded Insider as a growth management platform for digital marketers. The startup claims that its multichannel marketing SaaS and customer engagement are currently used by over 800 brands, including Samsung, Marks and Spencer, Singapore Airlines, Virgin, Uniqlo, and Estée Lauder.
One of the significant aspects of the startup is that 50% of its executive team, including the CEO and co-founder Hande Cilingir, are women. The startup runs a program called Young Engineers that offers coding classes to high school students, especially girls. Additionally, it plans to expand to primary school-age kids.
To a publishing firm, Hande Cilingir stated that the startup's AI-based technology makes it stand out from older and larger competitors such as Salesforce. The startup can integrate customer data from different marketing channels, which includes offline ones, to assist companies in making better predictions about customer behavior. The startup's analytics help various brands coordinate campaigns across different platforms, including mobile apps, the web, messaging apps, email, and other channels.
Insider, in addition to all those solutions, creates a one-stop-shop so everyone can overcome the operational bottlenecks because of the technology. However, at the same time, they are still providing all of the features, including personalization technologies that online businesses need, Hande Cilingir said.
During the times of the COVID-19 pandemic, it is very crucial to create new marketing strategies. For example, e-commerce companies have seen a surge in traffic due to COVID-19 lockdown orders. However, it is vital to figure out how to do the translation into sales. Simultaneously, other verticals, such as travel and hospitality, have to find new aspects of making revenue.
The company has expanded in 24 countries across Asia, Europe, and the Middle East to support brands' localization strategies. Although the startup's software does not require to be adapted in order to work in different countries, Cilingir mentioned that marketing varies widely between cultures.
For example, in Indonesia, direct sales are important, whereas, in Japan, sales operations are often dependent on agencies within a company. Insider's customer support teams serve as a complement to its software, assisting clients in using it to make marketing strategies.
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