SilverPush, the marketing tech startup based in Singapore has announced the injection of a US$ 5 million Series B funding led by Japan-headquartered FreakOut Holdings, Inc., a global marketing technology company.
SilverPush shared that it will use the funding to expand business globally and enter new markets in the APAC region such as Hong Kong, Australia, and South Korea. It seeks also to increase its AI capabilities by applying the technology in industries outside of advertising.
The company plans to explore the possibility of tapping into the OTT space with its new product called Mirrors, followed by the relaunch of another product called Prism, as a brand reputation monitoring platform.
“We’ve expanded into Southeast Asia in 2018, and we’ve seen rising customer appetite for on-demand and multi-screen viewing across the APAC region. At the same time, advertisers and brands have become more open to integrating new technologies in their audience outreach strategies,” said Hitesh Chawla, CEO of SilverPush.
Although categorically being in the marketing sector, the company differentiates itself with the use of AI to improve the engagement between brands and consumers.
Its product, Mirrors, was launched in late 2018 to help contextualise ads when people are viewing video content on their devices with the intention of tackling the misplaced online advertising problem. To do so, Mirrors detects context in video content that aligns with an advertiser’s core communications objectives, allowing more effectively targeted ads using AI with computer vision.
With its products, SilverPush has supported the campaigns of APAC-based brands such as Indofood, Unilab, and Tiger Beer. Its international brands’ repertoires include Unilever, KFC, Coca-Cola, Samsung, Johnson & Johnson, and others.
Outside of India and Southeast Asia, SilverPush is available in South Africa, Tanzania, Egypt, and the United Arab Emirates.
Image Credit: YouTube SilverPush