Fetch Plus closes S$720,000 seed round to fund new operation hires, marketing sales and channel expansion in Asia Pacific and the US.
Fetch Plus Inc Pte. Ltd has announced today that they have closed a S$720,000 (US$562,500) seed funding round led by investors Lawrence Seah and Yeo Choon Leong. The round was oversubscribed by 20 percent. The funding will be used for new operations hires, marketing, sales and channel expansion in Asia Pacific and the US.
According to Carmen Benitez, the founder and managing director of Fetch Plus, this latest funding round positions the company to corner the social media Software as a Service (SaaS) market in Asia Pacific and brings strategic opportunities to service the largest global brand franchises through the connections from the new investors. “This investment will help us drive uptake of our FetchFans.com service worldwide,” commented Carmen in the press release. FetchFans.com is Fetch Plus’ social media brand page app technology that powers some of the world’s largest brands and media title Facebook pages.
Fetch Plus was one of the eleven graduates from the first batch of the JFDI-Innov8 Bootcamp 2012, an accelerator program in Singapore. The Singapore-based company also pitched at the Echelon 2011 Launchpad at Asia’s leading tech startup event last year.
Read below for the full press release.
SINGAPORE — July 9, 2012– Fetch Plus Inc Pte. Ltd. announced today that it has closed a S$720,000 seed funding round. The investment was led by investors Lawrence Seah and Yeo Choon Leong and was oversubscribed by 20%. Fetch Plus is the first of eleven recent graduates from the JFDI-Innov8 Bootcamp 2012 accelerator program to announce follow-on funding since the bootcamp demo day, held on May 4. The funding will go towards new operations hires, marketing, sales and channel expansion in Asia Pacific and the US.
“This investment will help us drive uptake of our FetchFans.com service worldwide,” said Carmen Benitez, Fetch Plus founder and Managing Director. “We are now positioned to corner the APAC social media SaaS market and our new investor consortium brings strategic opportunities to service the largest global brand franchises”.
Since kick-off for the 100-day JFDI-Innov8 2012 Boot camp in January 2012, Fetch Plus has made its FetchFans.com platform public and secured major brand customers in the real estate and US multifamily housing sector that include Keller Williams Realty International, Berkshire Property Advisors, Fairfield Residential. In the APAC, a key customer win has been Singapore Press Holdings Magazines Pte Ltd. FetchFans.com now powers flagship magazine titles including Her World, Men’s Health, Golf Digest and others across five Asian countries.
Hugh Mason, CEO of JFDI.Asia Pte Ltd which organized the JFDI-Innov8 Bootcamp, said: “This is a great result for Carmen and her team and it reflects the huge focus they have put on customers. Fetch Plus was able to demonstrate more than a good idea – the company has real market traction – and that is what has spurred strong demand from investors.”
Information For Editors
Fetch Plus Inc Pte is a Singapore-based company with offices in Australia and the US. Its product FetchFans.com helps brand franchises quickly to deploy brand compliant Facebook Brand Page apps for its local franchisees, whilst giving those franchisees flexibility to adapt them to suit local market opportunities.
Founded in late 2010, Fetch Plus aims to be the leader in SaaS social media marketing technologies for brand franchises worldwide. Focused on developing tools that mirror the business models of brand franchises, its innovative technology has been featured in the New York Times and TechCrunch which named it one of seven social media companies to watch in 2011. FetchFans.com, its social media brand page app technology for brand franchises powers some of the world’s largest brands and media title Facebook pages. The founder of Fetch Plus, Carmen Benitez, was named one of five “Geek Girls To Watch in Asia” in 2011 by one of the largest social network enterprises for women in technology.
JFDI.Asia Pte Ltd
JFDI.Asia is a Singapore-based business innovation company that turns ideas into valuable businesses.
In 2012 JFDI.Asia operated a business “bootcamp” that funded and mentored 11 digital start-ups through an intensive 100 day business acceleration programme made possible by key partner SingTel Innov8.
Co-founded by Hugh Mason and Wong Meng Weng, two successful entrepreneurs and angel investors, the JFDI-Innov8 2012 bootcamp was inspired by TechStars and Y Combinator, which have created over US$5BN of new business value in the last five years. JFDI is the first member of the Global Accelerator Network in Southeast Asia.