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News  18, Jan 2011

SingTel Innov8 funds US-based Baynote

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Baynote, a digital marketing solution provider, announced recently a Series C funding round of US$13 million led by SingTel Innov8.

This is the second investment made by SingTel’s US$150 million venture arm, coming just days after leading a Series A round in Singapore start-up 2359 Media.

Earlier Baynote investors, including Hummer Winblad, Steamboat Ventures and JK&B Capital also participated in this round.

While the exact amount of funding by Innov8 remains undisclosed, this investment shows that Innov8 is not restricting itself to investments in Singapore or Asia.

In a statement released by Baynote, the company’s founder Jack Jia said, “Through SingTel Innov8’s investment, we hope to tap into the SingTel Group’s expansive markets and capabilities to help take Baynote and our technology for digital and e-commerce professionals to the next level.”

Baynote also recently appointed SAP executive Doug Merritt as chief executive.

Baynote provides personalization and digital marketing solutions for companies. Its clients include AT&T, Dell and Expedia and they have offices in UK and Germany.

Innov8′s CEO Yvonne Kwek said in a release, “We believe Baynote’s thought leadership around the adaptive web and its disruptive collective intelligence technology for digital marketers and merchandisers will continue to fuel the company’s growth in an area which is becoming more important for enhancing customer experience.”

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