Jakarta-based programmatic advertising startup ADSKOM has announced today that it has raised an undisclosed sum of 7 figures from Japan-based adtech startup Geniee. Convergence Ventures, as well as existing investor, East Ventures also joined the round.
This will be its third round of funding, following an investment of US$850k in 2014 from Digital Garage, East Ventures, Beenos Plaza and Skystar Capital. The startup also raised an undisclosed seed round from Rebright Partners in 2013.
ADSKOM is looking to grow its revenue by 300 to 500 per cent and expand into markets within the region like Malaysia and Thailand. It will also look into delivering its programmatic ad services to mobile and video platforms.
“This is our first ever investment in Southeast Asia,” says Akifusa Kanda, Executive Director at Geniee in a release. “With this investment, we will continue to work together with ADSKOM through knowledge sharing and an increase of direct business transactions.”
Geniee’s Japanese clients will now be able to leverage on ADSKOM’s data to penetrate into the Southeast Asian markets.
Italo Gani, Cofounder and CEO of ADSKOM, reveals that his firm had already been working
closely with Geniee prior to the investment.
When asked whether other programmatic advertisers Sociomantic Labs and Google presented a threat to ADSKOM, Gani told e27 “There isn’t really any head to head competition with them, we have the local data and inventories so we share that data with them and they share theirs with us.”
Although the company was founded in Singapore in 2013, ADSKOM chose to launch its platform in Indonesia, capitalising on the rapidly growing Internet user base, which is estimated to hit 73 million this year. With many using the web for social media, the archipelago is seen as a fertile ground for advertisers.
ADSKOM currently manages 150 million pieces of unique audience data for the Indonesian clients ranging from ISPs and other e-commerce providers.