Playbasis closes $1.8m Series A round led by InVent fund

Playbasis

Bangkok-based Playbasis, a gamification and engagement automation venture that launched in 2011, has closed $1.845 million in Series A funding, to further accelerate its growth and establish its market position as a major player in the gameification service provider space.

The Series A was led by InVent, the venture capital arm of INTOUCH Holdings, with a $1.545 million investment. Existing investors Cherubic Ventures and 500 Startups also participated in this round.

Playbasis has previously raised financing from Ardent Capital and Axis Capital Partners, bringing the total amount the company has raised to-date to $2.6 million.

Rob Zepeda, Playbasis founder-CEO said: “Playbasis is committed to delivering experiences that are more engaging and more rewarding. We fundamentally believe in the power of play, and we believe that gamification represents the cutting-edge in product design and human-computer interaction.”

Zepeda added, “We are excited to play our part in ushering in a wave of new applications that are more fun, more engaging, and more rewarding to use. We are honored to be supported by such a visionary group of strategic investors.”

Thanapong Na Ranong, VP of INTOUCH, noted that consumer behaviour had changed with the increasing use of digital technologies, leading to a need for corporations to adapt and deploy marketing techniques that effectively reached target audiences.

Thanapong commented: “When this happens successfully, consumer interest in brands and their services and products increase and will convert to purchases. InTouch saw exactly this with Playbasis’ flexible and ready to use gamification platform that allows marketing campaigns to be easily implemented on both websites and mobile applications.”

Commenting on the investment, Adrian Vanzyl, CEO of Ardent Capital explained, “Playbasis’ Series A is an important milestone for both Southeast Asia and Thailand’s startup ecosystems. It shows that enterprise-focused businesses with real IP are alive and well, and able to grow rapidly. Ardent was the first investor to back Playbasis, and this substantial round is great validation for both Rob and other aspiring entrepreneurs in this sector.”

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.