Use your < > keys to browse more stories

Dealised Raises $5.3 Million in Series A Funding

dealisedDealised, the company that provides group-buying platform solution for other group-buying sites, has just raised S$6.5 million (US$5.3 million) in a Series A funding round led by SingTel Innov8.

Other investors in this round includes Yuuwa Capital, Pollenizer, and several angel investors.

Dealised will use its regional Asian headquarters in Singapore to drive global business expansion and develop mobile group-buying solutions.

Dealised is the first to offer a group-buying solution in Asia and already has a presence in UK, Scandinavia, Middle East, and US. The Daily Telegraph and Mecom are some of its notable clients. Dealised was created in late 2009 to provide group-buying platform solutions to Spreets in Australia which was acquired by Yahoo7! for A$40 million (US$42.9) in 2010.

The group-buying platform solution company has also appointed Jonathan Marchbank as CEO to spearhead Dealised in Asia. Marchbank has over 20 years of experience in the mobile operator and device manufacturing sectors and has served as COO for Virgin Mobile US prior to joining Dealised. Marchbank commented:

Dealised partners in Australia and Scandinavia have already beaten Groupon and Livingsocial in their local markets. With our platform & services, partners quickly create and manage regular offers for their customers, maintaining revenue and relationships at risk from Groupon-like clones. We are busy repeating that successful formula in other markets.

The most exciting trend is in mobile, especially in Asia, and we see the volume of group-buying transactions on smartphones and other mobile devices growing exponentially over the next couple of years. Our operations in Singapore, as the business hub for Asia, are where we will focus on mobile growth.

Have Your Say!