SG-based marketing tech platform SilverPush raises $5m in Series B

SilverPush, an artificial intelligence-based marketing technology platform, is expanding globally after raising $5 million in a Series B funding round led by Japan’s FreakOut Holdings Inc., according to a company announcement.

The Singapore-based company, which was founded by Hitesh Chawla, Mudit Seth and Alex Modon in October 2012, said it will use the fresh funds to expand to new markets, including Hong Kong, Australia, and South Korea, as well as to augment its AI capabilities.

The company is now present in 12 markets across Asia and Africa, including India, Indonesia, Thailand, Malaysia, the Philippines, Vietnam, Singapore, South Africa, Tanzania, Egypt, and the United Arab Emirates.

SilverPush develops cross-device tracking and targeted advertising products that seek to improve the engagement between brands and consumers. Its latest product, Mirrors, utilises AI with computer vision to detect context in video content to provide targeted advertisements.

Its customers include Indofood, Unilab, Tiger Beer, Unilever, KFC, Coca-Cola, Samsung, and Johnson & Johnson.

“We’ve seen rising customer appetite for on-demand and multiscreen viewing across the APAC region; and at the same time advertisers and brands have become more open to integrating new technologies in their audience outreach strategies,” said SilverPush CEO Hitesh Chawla.

FreakOut Holdings, the investor in SilverPush’s Series B funding round, is also a marketing technology company with global operations. It claims to be Japan’s first and largest demand-side platform that provides programmatic solutions delivering in-feed display and video formats across 3,000 publishers.

“The internet video advertisement industry is growing quickly across the Asia Pacific region. We are strong believers in SilverPush’s high level of technology and outstanding product, and see a huge opportunity for them to grow and scale across APAC,” said FreakOut Holdings CEO Yuzuru Honda.

According to an analysis released last year by Media Partners Asia (MPA),  the online video industry in the Asia Pacific region is forecast to more than double its share of total video industry revenues from 9 per cent in 2017 to 20 per cent by 2023.

Advertising and subscription fees across TV and online video in the Asia Pacific (excluding China) grew 3.9 per cent in 2017 to reach $60 billion. TV revenues inched up 1.2 per cent in 2017 while online video revenues expanded 45 per cent to $5.2 billion, according to the MPA report.

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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.