Singapore business management platform raises $60m from Jungle Ventures, others

Deskera, a Singapore-based business management platform, has raised over US$60 million in series A funding. The round was led by Jungle Ventures, with Cisco Investments, Tembusu Partners, Susquehanna International Group, and Innoven Capital joining in. The startup claimed that the amount is “one of the biggest funding rounds in Singapore to date.”

The company plans to continue its global expansion using the fresh capital, focusing its efforts in the US, Indonesia, Australia, and the Philippines.

See: The Singapore startup pioneer who went from sleeping at the airport to making $42m a year

The funding will also bankroll research and development to better integrate Deskera solutions onto Singapore’s Networked Trade Platform (NTP), the city-state’s national trade information management system.

Founded in 2008, Deskera says its cloud-based platform serves “millions of small and medium-sized enterprises (SMEs) across Southeast Asia,” helping them track accounts and finances, manage customers, as well as to hire and manage employees.

The firm also announced the launch of Desk, a business to business (B2B) commerce platform that will allow SMEs to collate vendors, logistics, payments, and customs under one roof, providing them with the ability to buy, sell and transact online.

Deskera has crossed S$100 million in revenue for the 2017 financial year, more than doubled from the year before.

Update (Nov. 29): Added Deskera’s revenue figure for 2017.