Financial terms of the investment are undisclosed.
The VC firm – which maintains offices in Singapore, Jakarta, Tokyo, and San Francisco – has seen its global team lead investments and participate in numerous funding rounds in startup ventures across Asia and the US.
Flock is focussed on the convergence of above-the-line (ATL) and below-the-line (BTL) creative advertising and marketing services including video content creation and influencer strategies. The investment will see the rollout of technology offerings that includes an automated influencer marketing platform by 2017.
Digital platform ASEAN Up reports that Indonesia has a a penetration estimated at 35 per cent as of 2015, with about 160 million Internet users in the country by 2020 – representing approximately 63 per cent of the population. In terms of media consumption, Indonesia has total daily screen minutes of 540 minutes/day, with mobile devices accounting for 291 minutes per day.
According to East Ventures, this latest investment is aimed at enabling Flock to navigate Indonesia’s digital landscape and establish a niche for itself. East Ventures intends to leverage on its investment in Flock to aid early-stage web ventures in their portfolio achieve faster growth within Indonesia, given the proliferation of smartphones, e-commerce and the growing digital landscape of Indonesia.
Indonesia remains one of the most attractive and lucrative markets for digital marketers, impacted by growing affluence, a larger middle class, growing digital literacy and increasingly urbanised populations. However, the digital marketing space is also highly competitive and crowded, given a diverse array of platforms.
Flock CEO Ivan Hady Wibowo, said, “I think the way we will benefit local startups is not so much about our technology, but instead the opportunity for them to have someone orchestrating the collaborative marketing effort between their companies and established brands or key opinion leaders. Most of the startups need brand awareness with a limited budget. With someone taking care of the collaboration effort, we can make it cost-effective.”