IsItUp.com, a SaaS company providing fixed asset management solutions with offices in Singapore and Malaysia, has bagged an undisclosed funding from Gobi Partners to fuel regional expansion, the company announced on Monday (November 14).
The latest funding round, which will help IsItUp further extend its business operation across ASEAN countries, come only six months after the B2B platform had raised a six-figure investment from 8Capita and 500 Startups.
“We are excited to be part of the Gobi Partners family, and that they have seen the value-add our platform brings to our customers. The ability to have live-reporting and auditing for an enterprise that has offices in multiple locations and countries is a game-changer,” the startup’s co-founder and CEO, Andrew Diamond, said.
“The additional support from Gobi Partners, together with our existing investors 500 Startups and 8capita provides us with a strategic network and valuable mentorship that will support our growth ambitions in the region,” he added.
Companies at all sizes have been investing a war chest of money in fixed assets such as computers, furniture, software, and equipment, yet these assets aren’t being tracked.
To address this issue, IsItUp provides a cloud-based platform that enables companies to easily track and manage their assets in a cost-effective and decentralised way.
The company’s tracking technology and Onboard Concierge Team are the premise for launching its upcoming unique service of insurance reporting, which will provide companies with exact valuation for their fixed assets, helping them gain the right amount of insurance for their property.
Initially targeting small and medium businesses, IsItUp claims to have attracted the attention of several big enterprises throughout Asia.
“In fact, companies can now have a competitive advantage over other enterprises that continue to regulate these functions to the proverbial ‘back office’. IsItUp is also unique in that the platform can be a relevant tool for SMEs that are handling fixed assets such as photocopiers or laptops, to big corporations who own everything from transportation vehicles to computer servers,” said Victor Chua, Gobi Partners’ ASEAN Investment Director.