Perx has closed an undisclosed strategic funding round from Malaysia-based private investment fund RHL Ventures. With the fresh funds, it will now widen its range to Malaysia after having succeeded in the Singaporean market.
The startup started its journey as a mobile loyalty app to enable easily accessible loyalty and rewards. It then added a B2B component becoming a predictive mobile customer engagement and loyalty platform to let enterprises acquire, engage and reward their customers or employees intelligently through mobile applications.
Perx, during its journey, had also witnessed a change in its leadership as the original co-founders Andrew Roth and Jon Sugihara left the firm. Later, it secured funding in series A from Golden Gate Ventures and other investors, including Facebook co-founder Eduardo Saverin, current CEO Anna Gong, and CTO Rob Roach. Anna, in an official press statement, says,
We are pleased to have RHL Ventures on board. Through our strategic partnership with RHL Ventures, we are set to power and transform businesses’ digital and mobile customer engagement strategy in Malaysia.
The platform is keen on helping businesses create and deploy personalized, contextual and targeted campaigns that are based on predictive, real-time, relevant customer data. Its app claims to be rewarding 400,000+ users with rewards from 200+ merchants, while its enterprise loyalty solution, offers cutting-edge mobile solutions to bridging the B2B B2C gap. On the expansion to Malaysia, Anna cited its GDP per capita which is third highest in Southeast Asia. She added,
Its [Malaysia’s] ongoing growth is paving way for a plethora of businesses emerging in the region, coupled with a rising need of more customer-centric business approach fueled by technological innovations.
RHL Ventures was set up by three partners Rachel Lau, Raja Hamzah Abidin bin Raja Nong Chik and Lionel Leong in 2015. It has begun its investment journey with Perx. The firm has a particular interest in startups specializing agriculture, financial, property, technology and healthcare sectors and aspires to be a strategic partner to its portfolio investments. Raja Hamzah, commenting on their first deal, said,
Two factors drove our decision to invest in Perx: namely the ability of its platform to fully engage with the end-customer and the growth potential of the highly underserved Enterprise application space in Asia. We hope that through our investment, we can work together to strengthen Perx’s foothold in Malaysia and beyond.