Kuala Lumpur-based service design firm HYPERLAB, which has largely operated in stealth mode while developing its platform, has raised $500,000 in seed funding, the company announced Tuesday.
The investment was closed last month, it said in a statement, without revealing its individual investors.
HYPERLAB aims to create smart products that help businesses deliver better experiences to their customers. The funding will support the Malaysian startup in rolling out a communication platform that will help companies interact with internal teams, customers and partners.
“We will be launching with strategic partners in the coming months,” said Vic Sithasanan, co-founder of HYPERLAB, adding that the details of the platform will be revealed soon when the company officially launches the platform for public use.
While big conversation platforms like Facebook Messenger, WhatsApp, WeChat and Intercom are growing at a rapid pace, the startup believes there is a huge market validation for this segment.
“The niche we are targeting is defensible and set to grow in the next few years,” commented Janet Teo, another co-founder.
Sithasanan, Teo and their partner Chris Greenough led the Australia Securities Exchange-listed marketing and media firm Next Digital (which is now APD) in Asia from 2012 to 2015, growing the company’s footprint in Kuala Lumpur and the region through acquisitions. Next Digital acquired digital innovation agency FutureLab that was co-founded by Teo and Sithasanan in 2011.
The trio launched HYPERLAB as they realised that there was an increasing demand for better customer experience in the region. They founded digital recruitment firm Potentio.
Both HYPERLAB and Potentio are pieces of a bigger strategy to help brick-and-mortar companies turn into successful digital companies of the future, the service design startup said in its press release.