Indonesian marketing automation platform Kofera announced that it has raised an undisclosed pre-Series A round led by MDI Ventures, the corporate venture capital arm of state-owned telco Telkom Group.
Indosterling Capital, Discovery Nusantara Capital (DNC), and Gunung Sewu also participated in the current round for the South Jakarta-based startup.
According to Kofera CEO Bachtiar Rifai in a press statement, the startup plans to use the new funding product development, research, and market expansion in order to “achieve sustainable growth.”
Founded in 2016, Kofera co-founders include Rifai, Gayuh Tri Satria, Ryan Haryadi, and Ferry Ardhana Wahyu Hutama.
Claiming to be the first in the Indonesian market to provide software-as-a-service (SaaS) platform to automate marketing using artificial intelligence and machine learning, it aims to provide solutions to the problem of talent scarcity in Indonesia’s growing digital marketing field.
Building a sufficient in-house digital marketing team is considered costly for most startups; at the other hand, the Google Temasek report stated that digital advertising spending has reached US$200 million by 2015 and is expected to grow to US$2.7 billion by 2025.
Using machine learning, Kofera offers four integrated modules that include a campaign builder, optimiser, monitoring, dan analytics.
The company listed startups such as Tokopedia, Blanja, Berrybenka, Bhinneka, Sejasa, FlowerAdvisor, and e-commerce enabler such as aCommerce as clients.
“One of the factor that differentiates Kofera with its competitors is the use of end-to-end machine learning in campaigns services; as well as the integration of campaign building, monitoring, and optimisation,” Rifai said.
Prior to its latest funding round, Kofera has raised funding from Ideosource and Telkom Indigo.
Images Credit: Kofera