D8ii, also known as D8, was founded by Jayson Ho. He is an IT management consultant with over 20 years in the field managing and deploying tech development projects with Wall Street banks and major investment houses.
Back to 1996, Ho started to provide management consultancy and technology in London Financial District and later on established the sales office in the United States in 2013 to serve Silicon Valley and startup clients.
In 2015, he decided to set up the headquarters in Bangkok to capitalise on the strong mobile growth in Asia with the tax incentives approval from Thailand’s Board of Investment. He believes that creating a strong tech brand such as D8 is timely in Thailand in order to disrupt traditional business models.
The fundraising is expected to close in the next six to nine months, he said. It will use the funding to increase its HR capacity to meet high demand from Thai companies. The firm plans to employ around 1,000 people by 2020. Of total, 75 per cent will be local people.
Some part of the fund will be used to launch D8 Scholarship Programme for Thai IT graduates to enhance their skill in the second or third quarter of this year. It will provide nine months to one year scholarships, enabling graduates to learn advanced technology such as Node.js that D8 is a leader in this platform.
“Thailand is the smartphone capital of ASEAN and companies that are adopting these more advanced tech models and platforms are gearing themselves up to be future-ready. Within Thailand, businesses are already transitioning into digital environments and the app industry in Thailand alone is worth hundreds of millions of US dollars per year,” he said.
He added that it aims at capturing at least 10 per cent of this market and becoming a brand leader; a go-to tech partner with international standing that will drive Thai enterprise to the next level.
According to the company’s profile, the current valuation is based on a sales multiple average of twice earnings of last year, which posted at $1.2 million, and the revenue projection of $3 million in 2017.