Singapore’s Insider bags $32m in series C money

Singapore-based Insider, a marketing software-as-a-service startup, said it has raised US$32 million in a series C round led by Riverwood Capital.

Sequoia India, Wamda, and Endeavor Catalyst also took part in the round, according to a statement.

Insider co-founder and CEO Hande Cilingir / Photo credit: Insider

Founded in 2012, Insider provides a growth management platform that lets digital marketers connect customer data across channels and systems. It then uses AI to process that data and predict future customer behavior to help companies reach the right customers.

Ultimately, the company claims its technology can help marketers drive growth across the funnel, from acquisition to activation, retention, and revenue.

See also: Sequoia-backed startup offers product that aims to lower customer acquisition costs

What are its future plans? With the new funds, the company said it plans to further enhance the capabilities of its growth management platform.

This includes investing in its AI to create flexible algorithms suitable for clients in the travel, media, and finance sectors, among others, Insider told Tech in Asia. 

The company also plans to bolster its R&D team and invest in its global sales and marketing efforts, as it looks to make its presence more known in the West.

“We plan to grow substantially in our existing 24 countries, and we are now ready to enter the US market and believe that our fresh solutions to marketers’ biggest pain points will be a major differentiator,” added Insider co-founder and CEO Hande Cilingir. Insider currently has offices in London, Singapore, Hong Kong, Jakarta, Kuala Lumpur, Bangkok, Manila, Paris, and Amsterdam.

How much traction has it gotten? Since the company’s series B round in 2018, it was able to expand its presence in Asia Pacific, Europe, and Latin America from 15 countries to 24. Insider’s client base also more than doubled from over 300 to upwards of 800.

“We have built a truly multichannel platform with the widest product feature set to become the preferred platform of choice for marketers worldwide,” the company said.

Insider also bumped up its global team from 202 to 562 since its last funding round.

What challenges has it faced recently? Insider said that finding and hiring the right talent as it expands into newer geographies continue to be two of its biggest challenges.