Singapore AI marketing firm snags $5m from FreakOut

SilverPush, a Singapore-based AI marketing platform, has secured US$5 million in a series B funding round led by global marketing tech firm FreakOut.

The company will use the new capital to bankroll the development of its AI capabilities and market Mirrors, its recently launched advertising solution.

Using computer vision, Mirrors helps contextualize ads when people view video content on their devices. It “detects context in video content that aligns with an advertiser’s core communication objectives, which allows them to target their ads effectively.”

SilverPush will also use the funding to broaden its global footprint, particularly in Hong Kong, Australia, and South Korea. The company is currently present in India, South Africa, Tanzania, Egypt, and the UAE.

Since expanding in Southeast Asia in 2018, SilverPush said it has seen a 100 percent year-on-year growth with over 30 percent revenue clocked by its international business.

“With this new round of funding, we expect our global business to contribute to over 50 percent of revenue, and expect to hit an annual target of US$25 million over the next two years,” says Hitesh Chawla, CEO of SilverPush.