Philippines-based WiFi advertising startup Social Light Inc announced today it has raised PHP 25 million (US$470,000) in a Pre-Series A round led by Cerebro Labs. The funding will spur the company’s expansion plans in its core market Philippines, as well as its other markets including Singapore, New Zealand, Australia, South America and Africa.
Besides the investment, Social Light’s CEO Francis Simisim said that Cerebro has connected with the company with strategic corporations and portfolio companies that will enable the company to grow faster.
Social Light also appointed its new Chairman, Januario Jesus “JJ” Atencio, who will be charged with growing the business in the Philippines.
Internet connection in the Philippines is expensive and spotty, and while there are several parties in the country that provide free WiFi service, “it isn’t sustainable to them as they burn cash with no means of ROI,” said Simsim.
Social Light’s business proposition is its WiFi advertising platform, Vayafi, monetise their networks while giving free WiFi away to users. The platform sells ad space to advertisers who use it deliver digital ads to the service’s consumers. This in turn incentivises businesses to maintain an optimal and sustainable WiFi network.
“It helps our stakeholders, venues and advertisers alike, give free WiFi sustainably by earning revenues and getting their desired marketing outcome,” said Simisim.
“For advertisers, this below-the-line advertising is similar to flyering (distribution of flyers) but in the user’s device. Comparing to other below the line advertising channels, our solution enables them to deliver an ad to the right person, at the right place at the right time on their own mobile device.”
Social Light plans to deploy around 1,000 access points in the Philippines. It is targeting businesses of all sizes, from shopping malls to corner shops or cafes.
In Singapore, Social Light has already rolled out its service to the Singapore Sports Hub.
Simisim said the company is looking for partners such as systems integrators, telcos, ISPs, Ad Agencies and Marketing firms.
Image Credit: Social Light