The funds will be used by the e-commerce site to expand its team in the tech and media division, increase operational staff, and add new features on its website.
Sociolla’s new partner, Istyle, operates a popular beauty website @cosme that attracts over 14 million users per month in Japan. The Tokyo Stock Exchange-listed company has planned to enter Indonesian market through its partnership with Sociolla. It will then proceed into Taiwan, Hong Kong, and Thailand. Previously, Istyle had expanded into China.
Sociolla was founded by Christopher Madiam, John Rasjid, and Chrisanti Indiana in March 2015. Currently, it claims to offer 140 local and foreign beauty brands, with products ranging from hair and skin care, make up, nail polish, soaps and shampoos, to other beauty accessories.
In Indonesia, Sociolla competes with Luxola Indonesia (Sephora). Sociolla currently has about eight million visits per month.
In November 2015, Sociolla raised series A investment from Venturra Capital-led consortium. Venturra, which is sponsored by conglomerate Lippo Group, invests in technology-based companies in the consumer needs, e-commerce, financial services, health care, and education sectors.