Singapore: AdAsia Holdings makes hard close of Series A at $14.5m

Kosuke Sogo, CEO-Founder of AdAsia.

Singapore-based AdAsia Holdings, a technology enterprise developing artificial intelligence (AI) solutions and marketing technology, has secured an additional $2.5 million to its Series A from Hisanori Watanabe and publicly listed news app provider, Gunosy.

This brings the hard close of its Series A round to $14.5 million.

Following an initial $12 million investment from JAFCO Asia in April 2017, the company has been developing an AI-driven matching engine to connect advertisers to publishers and influencers to brands. The additional funding will be used to accelerate this development, and scale the engine outside of the marketing and advertising industry.

Former founder, president and CEO of WebCrew Inc, Hisanori Watanabe, said: “Having been in the media and technology industry in Asia for over 20 years, it is hard to find a company like AdAsia Holdings. Their vision for AI and exciting plan to scale their solutions across industries will further the company’s astounding progress.”

The investment by Gunosy will see AdAsia partner the Japanese corporate to co-develop video advertising technologies with Gunosy in the Japan market, and also to expand Gunosy’s advertising technologies to the Southeast Asia market via AdAsia’s network.

“We will continue our growth in the marketing and advertising industry, and further develop our products. We also believe that AI will become an omnipresent and essential part of daily lives. Of course, our product strategy will still be the same – empowering industries through easy-to-use and integrated offerings,” said Kosuke Sogo, CEO and co-founder of AdAsia Holdings.

According to Sogo, bringing Watanabe and Gunosy on board were strategic moves meant to permit them to “access to experienced counsel and further business opportunities.”

The company reports that it generated upwards of $12.9 million in revenue in 2016 and has been operating at a profit since then, with an average quarter-on-quarter revenue increase of 30 per cent in revenue for 2017.

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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.