SINGAPORE, 19th February 2019 – SilverPush, the Singapore based marketing technology platform, today announced that it raised US$ 5 million in Series B funding led by FreakOut Holdings, Inc., a global technology investment company.
The funding will be used to expand their business globally, including new markets in the APAC region such as Hong Kong, Australia, Bangladesh and Sri Lanka; new markets in Africa; and the United States.; and increase it’s AI capabilities, with a view of applying the technology in industries outside of advertising in the future. The company will also look to tap into the OTT space with its newly launched product, Mirrors, and relaunch another product, Prism, as a brand reputation monitoring platform.
“Since expanding into Southeast Asia in 2018, our business has grown 100% y-o-y with over 30% revenue clocked by our international business. We’ve seen rising customer appetite for on-demand and multiscreen viewing across the APAC region; and 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. “With this new round of funding, we expect our global business to contribute to over 50% of revenue, and expect to hit a target of US$ 25 million over the next two years.”
SilverPush uses AI to improve the engagement between brands and consumers. The company’s latest product, Mirrors, was launched in late 2018 to help contextualise ads when people are viewing content on their devices – therefore aiming to tackle the US$170 billion global problem of misplaced online advertising. Using AI with computer vision, Mirrors detects context in video content that aligns with an advertiser’s core communications objectives, allowing them to effectively target their ads in a world already cluttered with advertisements. This contextual approach to marketing seeks to revolutionise the way that brands engage with their audience.
Talking about the investment, the CEO of FreakOut Holdings, Inc., Yuzuru Honda said, “The internet video advertisement industry is growing quickly across the Asia Pacific region. We are strong believers in SilverPush’s high level of technology and outstanding product, and see a huge opportunity for them to grow and scale across APAC.”
SilverPush has already supported the campaigns of regional brands in APAC such as Indofood, Unilab and Tiger Beer – as well as international brands such as Unilever, KFC, Coca-Cola, Samsung, Johnson & Johnson and many more.
In addition to India and Southeast Asia, SilverPush is also present in South Africa, Tanzania, Japan, Egypt and the United Arab Emirates. With an aim to further amplify its business presence in Hong Kong in the next two months, the company plans to expand to Australia and South Korea by Q2 of 2019.
Founded in 2012, SilverPush is a global leader in providing real-time OTT video tracking and TV-to-digital sync solutions for advertisers to measure and maximise their OTT video reach; namely via cross-screen marketing platforms powered by patented algorithms and artificial intelligence. The pioneer of India’s first mobile demand side platform (DSP), SilverPush also provides performance marketing solutions as well as end-to-end e-commerce solutions for established and emerging brands.
The company is now present in 12 markets across Asia and Africa: India, Indonesia, Thailand, Malaysia, the Philippines, Vietnam, Singapore, South Africa, Tanzania, Japan, Egypt and the United Arab Emirates. For more information, please visit: www.silverpush.co.
FreakOut Holdings, Inc. is a leading global technology investment company focused on delivering unrivalled marketplace advantage to its clients, stakeholders and people. It serves as the parent to FreakOut [DSP;SSP] as well as Intimate Merger [DMP], AdGeek Marketing Consulting Co [Trading Desk], IRIS [DOOH], Talentio [Talent Management], and Gardia [FinTech]. Each subsidiary of FreakOut Holdings has global operations and holds leading market positions, enabling marketers and advertisers to buy real-time impressions across display ad exchanges and supply side platforms, as well as supporting the data marketing initiatives of client companies and agencies. As Japan’s first and largest demand-side platform, FreakOut provides programmatic solutions [DSP, SSP] delivering in-feed display and video formats across 3,000 publishers. The FreakOut Group’s business spans across 19 countries in Asia Pacific, Europe, Middle East and North America. FreakOut Holdings, Inc. was incorporated on October 10, headquartered in Tokyo, Japan, and listed on the Tokyo Stock Exchange [TSE:6094].
Discover more about FreakOut Holdings at https://www.fout.co.jp/en/