Singapore-headquartered AdAsia Holdings has raised $12 million in series A round of funding from JAFCO Asia. This is, by far, the largest disclosed series A round for a Southeast Asian ad tech firm, and also the largest series A round for an Asian ad tech company, excluding the Chinese-headquartered firms.
Incorporated in April 2016 by CEO Kosuke Sogo and COO Otohiko Kozutsumi, AdAsia seeks to boost marketers’ prowess through one single platform. With a strong Southeast Asian presence, it intends to localize solutions to suit each market’s needs. Kosuke, in an official release, mentions,
We want to gain a big market share in our bid to become the biggest advertising technology company in Asia, and this funding will only strengthen our push.
The company has set its target post the funding round. It will utilize the funds to step into five new markets this year – China, Hong Kong, Japan, Philippines, and Malaysia. Currently, it has offices in Taiwan, Cambodia, Vietnam, Indonesia, and Thailand. The startup has a headcount of around 80, and by the end of the next year, it wants the team to be 400 employees strong. Enunciating the future plans, Sogo adds,
The funding has accelerated our quick growth, and in our move to enable marketers, advertisers, and publishers across Asia to leverage on intelligent tools, we plan to cover the majority of Asia by the end of 2018.
AdAsia is also planning to establish a product development center in Vietnam and accelerate the integration of both artificial intelligence (AI) and machine learning into its products. Sogo states AI and machine learning will provide an added layer on top of the current product lineup that includes the AdAsia Digital Platform and CastingAsia. It will also be a big part of future innovations, addressing the needs of modern marketers, advertisers, and publishers.
The company’s flagship product, the AdAsia Digital Platform is an integrated advertising platform capable of managing transparently, functions of programmatic buying and reporting, influencer marketing and video production in a single platform. The company has been building up its video and display ad networks in the past year including premium publishers like Sanook and Kapook in Thailand, YAN News in Vietnam, among others.
Its digital marketing consultants and in-house creative teams support marketers and advertisers in their activities, providing end-to- end solutions across online advertising and influencer marketing. AdAsia is planning to go public late next year or early-2019 and is looking to list in either Hong Kong or Tokyo.