Singapore-based software-as-a-service (SaaS) company Dexecure has announced raising a $762,000 (S$1 million) seed financing round from Southeast Asian seed-stage investor Cocoon Capital and international venture capital firm Walden International.
The company claims its algorithm can help customers optimize websites across devices, browsers and bandwidth conditions. It also allows website owners to measure the impact of increasing website performance on user engagement and sales.
“Dexecure shows how global innovation is shifting towards Asia. We found that the company enables speed increases for high-traffic websites at a 6x to 10x lower price point compared to existing solutions in the market,” said Will Klippgen, Managing Partner at Cocoon Capital. Klippgen will join Dexecure’s board of directors.
The startup was founded by Inian Parameshwaran, a 2014 graduate who worked as a research assistant in the systems security lab at the National University of Singapore. Dexecure was the first Singaporean startup to be included in the Y Combinator Fellowship Program.
In the last four months, Dexecure has optimized and served 568 million requests, saving 6.8 terabytes of data for its customers. It is also a part of the AWS Partner Network (APN) and offers its customers an accelerating software layer on top of the CloudFront service.
“With browsers coming up with new features every single month, it is almost impossible for website developers to keep track and change their code to optimize for performance. At Dexecure, we have a team of developers that monitor these changes and accelerate websites so that users anywhere can enjoy a fast browsing experience,” Parameshwaran said.
Dexecure’s initial ideas were based on three years of research at the National University of Singapore in collaboration with Anquan Capital Pte. Ltd.
Cocoon Capital is a S$10-million seed-stage venture firm while Walden International focuses on cross-border, IT opportunities with its total $2.6 billion in committed capital.