Singapore-based B2B marketing data software provider Corporate360 announced that it has raised US$200,000 in seed funding.
The investors are Japan, US and Singapore based, revealed Corporate360 to e27.
The monies will be used to launch a new product and expand its data science and sales teams. A new SaaS-based B2B marketing campaign product and mobile applications of Corporate360’s products are expected to launch by mid 2015.
“Our primary strategy is to maximise market traction and reinvest in continuous innovation of our products. We pitched to nine VCs, and got three term sheets. We have multi-year SaaS contracts running for the next two to four years with a strong pipeline. Discussions are under way on one offer to review the second half of this year for Series A round, ” stated CEO and Founder Varun Chandran.
The startup, founded in 2012, offers cloud-based marketing data software for B2B marketers and Big Data analytics. Within its three years operating under a bootstrapped system, the company is now profitable, growing from an initial revenue of US$250,000 in its first year to hitting the million dollar mark in its third. According to the company, its clientele now registers up to 300 global customers, including Dell, HP and VMware.
With operations in five countries, including India, 360 has ordered the construction of a 50-person technology park in South Indian state of Kerala. Ashish Mandirathil, Director, Corporate360 shared that the new office facilities would enable the company to save on operating costs and increase company assets in the long run, as well as provide better support to employees and innovation plans.
Currently, the company is setting up sales office in the US. Singapore is chosen as headquarters due to city-state’s business friendly policies.
“As part of our social mission to bring IT jobs to rural towns in India, we opened our first ‘data factory’ office in Pathanapuram, employing 30 data science and software engineers,” shared Mandirathil. The new office facilities are to be operational by June 2015.
Corporate360 reported that the current team consists of 30 employees and nine contractors and that it is in discussions with 10 engineering colleges and partnering with ICT Academy of Kerala for campus drives to recruit 20 engineers and 50 interns in Singapore and India in 2015.
“These moves will support our efforts to disrupt the marketing data industry. We are in a unique position to be the example for the nascent startup scene in Asia that is just beginning to find real traction in the West,” said an official company statement.
As for the expansion plans, the software development and Big Data teams are to expand to India and the Philippines, while management, sales and marketing teams in Singapore, the UK and US, explained the startup to e27.
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