Singapore-headquartered software company, Ematic Solutions, recently announced that it has raised US$1.07 million (S$1.5 million) in a seed round, of which investors included 500 Startups, Wavemaker Partners and Convergence Ventures.
According to a media statement, the company will use the funding for product development and expansion of its global team, with hiring planned in Singapore, Europe and the United States. It added that it is continuing to seek investment in this round in order to accelerate its expansion into the Southeast Asia (SEA) region, notably in Indonesia and Thailand.
Ematic Solutions is focused on helping companies increase return on investment in email marketing, using an easy, plug and play artificial intelligence engine that seamlessly integrates within a company's existing systems. Over the past year, they have expanded their app suite to include additional performance boosting tools, such as web and mobile engagement tracking applications that rapidly grow databases, and a tool that turns site visits and individual product views into sales.
"The company was founded to give marketers the ability to engage their customers in the most effective way, based on hard data and analysis, without needing to divert IT resources on a lengthy integration project. Our initial suite of applications helped our customers optimise their efforts around email and immediately started driving significant incremental revenue. We've witnessed similar success as we rolled out additional tools, and we believe there are future opportunities across the entire digital marketing ecosystem. This funding will help us to refine our technology and introduce new solutions to online businesses in the region at an even faster pace," said Paul Tenney, CEO of Ematic Solutions.
"Marketers in Southeast Asia need to cover multiple countries quickly and efficiently, and current legacy systems are not able to do it cost-effectively. Ematic is focused on giving marketers solutions that work and can scale across geographies, with tools that our customers can manage," he added.
Ematic said that it will continue to focus on SEA, which is touted as one of the fastest growing areas for e-commerce in the world. In fact, Frost & Sullivan predicted that total revenues from B2C e-commerce in the six largest Southeast Asian markets will reach US$34.5 billion by 2018, from US$7 billion in 2013.
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