Betaout, a customer intelligence and marketing automation platform for E-commerce companies, has raised an undisclosed amount of funding from SEA focused East Ventures and angel investors.
This funding is earmarked by Betaout to bolster its operations in Indonesia, and other parts of South East Asia, expand their clientele, and focus on product development. Plans are underway to enhance its mobile offerings, and introduce newer features on its platform such as machine learning, live chat plug-ins, etc.
Ankit Maheshwari, CEO and Co-founder of Betaout said, “Indonesia is an important market for us and having the support and domain expertise of East Ventures, will help us in executing our vision of enabling e-commerce marketers across South East Asia to retain their customers and drive better ROI”.
Prior to this investment, Betaout has been serving multiple SEA based companies, such as Tokopedia, Ralali, Tripvisto, Lemonilo, etc. The Betaout platform has helped these e-commerce companies to get better analytics on their customers and personalize & automate their marketing campaigns.
Founded in 2010, East Ventures is an early stage VC firm for consumer Internet and mobile, based in Indonesia and Singapore and Tokyo. KPMG has ranked East Ventures as one of the most active VC in Asia in 2016. Speaking on the investment, East Ventures Cofounder & Managing Partner Mr. Willson said, “We are very pleased to partner with the Betaout team, seeing the efforts and innovations that the team has achieved since their founding. The growth potential of the SE Asia e-commerce market is tremendous and Betaout’s focus on this market excites us”.
One of Betaout’s key customers Mr. Joseph Aditya, CEO, Ralali, said “We are confident that with the smart personalization in communication offered by Betaout, for each of our different customer segments, we are better able to engage customers and also retain them for a longer period of time.” Ralali is one of Indonesia’s leading online B2B marketplaces, supplying MRO goods and other business needs.
Indonesia presents a great opportunity for E-commerce among other emerging Asian economies, with current projections putting this archipelago nation’s E-market at $130 billion by 2020 (coming third behind China and India).
In April 2016, Betaout secured $1.5M in its Pre Series A round of funding. The funding came from an esteemed group of investors including Beenext, Stanford Angels, Letsventure, Chennai Angels, Hyderabad Angels, and Mumbai Angels.