The startup closed the funding from the two investors separately throughout 2017.
It plans to use the funding for product development and talent acquisition, particularly for its sales and marketing team.
MailTarget provides marketing email automation for small- and medium-sized enterprises (SMEs). The platform is able to send up to 300 emails per second, and is completed with a landing page that can use each company’s own domain. It is also compatible with Google Analytics ID and Facebook Pixel.
Founded in 2016 by Yopie Suryadi, Masas Dani, and Johan Tahardi, the Jakarta-based startup claimed to have secured 730 paying customers and is able to fund operations from its own revenue.
CEO Yopie Suryadi also stated that the startup might reach break-even point by 2018.
“The SMEs provide a massive market, but it is also known for being challenging, as it requires a plenty of resources and funding for education. Entering the SME market requires a particular strategy if you do not wish to run out of breath along the way,” said Suryadi.
In the future, MailTarget plans to build an “all-in-one” platform to help SMEs with their digital marketing efforts.
They also plan to implement machine learning in their product, particularly in providing a digital personal assistant to help users get recommendation for their marketing efforts.
Commenting on the investment, Azure Ventures Managing Partner Felix Setyomulyono said that SaaS startups will become popular in Indonesia within the next one to two years.
Another example of an Indonesian startup working in the field of digital marketing automation is Kofera, which raised an undisclosed pre-Series A funding round led by MDI Ventures in June.