SG data intelligence startup Dataxet buys MDI Ventures-backed Sonar Platform

Jakarta, Indonesia. Photo by al ghazali on Unsplash

Singapore-based data intelligence company Dataxet is acquiring Indonesian digital media monitoring startup Sonar Platform for an undisclosed amount.

Following the acquisition, Dataxet will expand its existing solution offerings by adding Sonar Platform’s analytics, influence and crisis support products. The deal follows the Singapore firm’s recent joint venture with peer Truescope Singapore to expand across the Asia Pacific.

Dataxet has also sealed a deal to acquire Malaysia’s News and Ads Monitoring (NAMA), which offers a range of media monitoring services including print and broadcast, as well as online and social media tracking.

The Sonar Platform acquisition will provide an exit to its investors including MDI Ventures and Gunung Sewu.

“The strategic acquisition of Sonar Platform marks Dataxet’s progress in building its branded network of integrated data intelligence in Asia following the launch of Truescope Singapore,” said Dataxet co-founder and CEO David Liu. “Securing presence in key commercial markets across Asia is part of our plan to provide a truly ‘best-in-class’ data intelligence with localised expertise and context.”

Sonar Platform founder and CEO Amien Krisna will join Dataxet’s executive board after the acquisition.

Founded in 2015, Sonar Platform raised its latest funding in 2016 from MDI Ventures, Gunung Sewu and several strategic angel investors. Its clients include Microsoft, Grab, Huawei, and Air Asia.

For MDI Ventures, the sale of Sonar marks its first exit this year. The firm says it is working on multiple strategic deals to add to its list of exits. Last year, MDI Ventures clocked five exits as the investment period of its first fund of $100 million came to a close.

The firm is currently raising multiple parallel funds, including a growth and seed fund, which is expected to be closed soon.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.