Correction: We had earlier reported that “Adskom has today announced raising S$1 million”. The amount should have been S$1.06 million (US$850,000). We apologise for the error.
Founded in Singapore, advertising startup Adskom has today announced raising
S$1 million (about US$799,000) S$1.06 million (US$850,000) from four investors: Digital Garage, East Ventures, Beenos Plaza, and Skystar Capital.
The funds will be used to develop Adskom’s upcoming data management platform and boost expansion efforts. According to an official release, the firm is looking to formally enter Singapore, Indonesia, Thailand and Malaysia.
According to Italo Gani, CEO, Adskom, while the company was incorporated in Singapore and received funding as a Singaporean entity, most of its staffers are based in Indonesia. “We plan to start expansion next year,” he said, adding that the team is looking to hire 20 people in the region. Currently, there are 40 staff members in Indonesia and the US.
Adskom’s platform, a real-time programmatic ad exchange, works for both publishers and brands (including those managed by agencies). Publishers are always looking to sell ad space, and brands are always looking to get the best return-on-investment when it comes to advertising.
Some publishers on Adskom include Detik, Tempo.co, Kontan.co.id, and Bisnis.com, while brands and advertising agencies include WPP, OmnicomGroup, Smaato, Starcom and Criteo.
For each successful transaction on the various sites, Adskom will charge the publisher a certain percentage as commission. The specific percentage was not disclosed.
In a chat with e27, Gani shared that the company is not profitable yet. This is mostly because since its founding days, one-year-old Adskom has spent most of its resources focussing on technology instead of generating revenue, said Gani. Going forward, the team will focus even more on innovating and launching the aforementioned data management platform.
“Currently, we want to do more targeting abilities by introducing this data management platform,” added Gani. Through cohort analysis and other methods, brands and publishers are able to really drill down into who the visitors are, how visitors are viewing information, and understand these visitors to get better conversion rates.
Adskom is also looking to manage more than one billion impressions per month by Q1 2015. At the moment, it manages about 500 million impressions per month — which is still quite a substantial number.
For the record, Adskom had earlier received an undisclosed amount of seed funding from Rebright Partners. The firm is looking to close a Series A funding round in early 2015, noted an official release.