Indonesian adtech startup Pomona announced that it has raised an undisclosed Series A funding round in early 2018 from an undisclosed investor, following a seed funding round the startup has raised in April 2017, DailySocial reported.
It plans to use the funding to develop its technology, acquire talents and customers.
The funding round was announced during a press conference in Jakarta on Thursday when the startup announced their pivot into being an fast-moving consumer goods (FMCG)-focussed adtech startup.
Launched in 2016, Pomona began as an O2O marketing solution that uses gamification to drive customers to offline retail and increase transactions.
It worked by offering customers reward points for shopping in at particular retail store, using a QR code-based mobile app.
Following the pivot, the startup will offer sales conversion tools that aim to help FMCG industry players receive sales data based on the marketing activities that they have launched. Its omni-channel ad platform utilises machine learning and Optical Character Recognition (OCR) to support its call-to-action tools.
It allows customers to receive cashback by scanning the receipts of their purchase.
In a press statement, Pomona CEO Benz Budiman explained that the startup has begun developing the new technology in the end of 2017. It began implementing it in early 2018 before soft-launching it within the last two months.
The pivot was inspired by demands from FMCG industry players in Indonesia, who expects a more accurate way to understand customers’ needs. Industry players have not always been clear about whether their marketing activities ended up with sales conversion or not.
With this new direction, Pomona claimed that it is now the only adtech startup in the country that focusses on sales conversion, while the rest focusses on awareness.
Image Credit: Pomona