Ematic's dashboard. Credit: Ematic
Ematic Solutions — Singapore's cloud-based digital marketing platform — has closed its pre-Series A financing after raising an additional US$2.4 million.
This latest round includes new investor Walden International, as well as existing investors Wavemaker Partners, MDI ventures and Convergence Ventures. The overall investment has amounted to US$4.4 million, said Ematic in a press release.
Ematic leverages self-optimising email marketing artificial intelligence (AI) technology to help businesses convert from web visitors to buyers. The AI technology helps to adjust each user's mailing frequency to optimise performance rates by using a series of dynamic algorithm that automate advanced segmentation practices.
According to Ematic, the reduction in noise in the email inbox is the key driver in month over month increase in engagement rates and email revenue for many established brands in the Asia Pacific region. Ematic added that brands using the solution have been able to turn emails into one of their top performing channels - often driving more than 20 percent of their e-commerce revenue.
Currently, Ematic is actively talking to investors for Series A funding, which will be used to accelerate its expansion, enhance product suite with better mobile solutions, and build out a highly scalable self-sevice model for the platform.
"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, Ematic Solutions.
"This latest pre-Series A investment underlines our investors' continued confidence in our business model, technology and pace of growth. The Series A funds will accelerate everything and power the deployment of more features to make our product suite more efficient in raising engagement and generating email revenue for digital brands," added Tenney.
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