Singapore software company Ematic Solutions, which helps marketers improve digital marketing channels, has raised nearly $1 million in pre-Series A funding.
Taking total funding to $2 million, including an earlier seed-funding round, the investment comes from MDI Ventures, a corporate venture capital initiative by Telkom Indonesia.
Ematic Solutions has also opened an office in Jakarta office, where it is actively recruiting a customer success team to work with Indonesian companies.
Founder/CEO Paul Tenney says that with 73 million users, Indonesia has the largest internet population in Southeast Asia, which is set to grow “at a blistering pace”.
“There has been a huge pull for us from regional and local online retailers to be in Indonesia to help them capitalise on this opportunity. MDI Ventures’ investment and market insight will help us rapidly expand our market reach. And leveraging Telkom Indonesia’s customer base of 150 million people, as well as its vast network, will help Ematic achieve even greater growth.”
A Silicon Valley veteran, Tenney founded Ematic Solutions to address the fundamental challenges associated with digital marketing in Southeast Asia. After graduating from Stanford University in 2002, he joined a premier enterprise email marketing firm in Silicon Valley and started a journey that took him around the globe helping Fortune 500 companies like eBay, Hewlett-Packard and Expedia build high-ROI email marketing programs. Landing in Southeast Asia in 2010, he has made Singapore his long-term home.
Ematic’s Jakarta headquarters, its first customer-focused office outside of Singapore, will pave the way for online retailers in Indonesia to increase the effectiveness and return on investment of their digital-marketing efforts in a rapidly growing market. Retail eCommerce sales in Indonesia are expected to hit $5.29 billion this year following 65.6 per cent growth last year.
“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,” says Tenney.
Ematic Solutions has been working with eCommerce retailers in Indonesia since late last year and it already has it a portfolio of more than a dozen clients, from luxury goods provider Luxola to fashion eStore Berrybenka and lifestyle marketplace Bobobobo.
Ematic’s Indonesia team will provide local customers with in-market expertise and campaign conceptualisation and management, supported by a team of technical specialists in Europe, Singapore and the US.
“We believe that Ematic Solutions represents the future of adtech in Indonesia and Southeast Asia,” says MDI Ventures CEO Nicko Widjaja.
Ematic Solutions’ Email Intelligence Cloud helps digital marketers build and deploy high-ROI marketing programs using a suite of plug-and-play apps.