Singapore-based linked data analytics firm Latize announced that it has secured a S$2 million (US$1.4 million) funding round from Tembusu ICT Fund 1, ACP Venture Capital and Spring Seeds Capital.
The funding round follows their Series AA round (commonly equated to a Seed round) in February 2015, and the company plans to use the new funds to sharpen “productisation” strategies and scale up business and operations globally.
“Since ACP’s first investment in Latize, the company has significantly expanded its support to key government clients and has scaled into new industry segments in Singapore and abroad. We continue to believe in the company and its ability to innovate and grow internationally,” said Sameer Narula, Managing Partner at ACP Venture Capital, in a press statement.
In April, Latize opens its first overseas office in Sydney, Australia. The company cited support from IE Singapore and its recent IDA accreditation as crucial elements of their international expansion.
“In fuelling our next growth phase internationally, the support from both IDA and IE Singapore has been instrumental. The strong endorsement from IDA through Accreditation will enable Latize to strengthen our credentials and open doors to international buyers. With the opening of new offices in Sydney and key additions to the international team, we believe Latize is perfectly positioned to offer its solution to the greater Asia Pacific region,” explained Latize CEO Vikram Mengi.
He also added that the company is set to launch “exciting new features” in the upcoming months.