Tellscore, an automated micro-influencers-meet-brands platform in Thailand, is raising a Series A round to expand its operation in Indonesia.
Tellscore co-founder Suvita Charanwong told DEALSTREETASIA that the company was in talks with investors to raise $5 million for series A. She expects to seal the deal by April this year.
Around 20 per cent of the proceeds will be deployed to support its expansion to Indonesia while the remaining sum will be spent on hiring talent for sales and technology as well as covering marketing expenses.
“We have set up an office in Indonesia and plan to launch the operation in the second half. We chose Indonesia because people there have similar behavior to Thais. Meanwhile, its market is much larger, which can allow us to scale up quickly,” she explained.
Tellscore was co-founded in 2016 by Charanwong and Amornthep Chimpleenapanont, who were behind digital marketing agency Redlab. The startup recently won the competition held by depa Accelerator Program x Techsauce in Thailand last month.
The startup claims to have around 26,000 influencers and 180 brand clients on its platform. In 2019, it targets to have at least 30,000 influencers as well as double its revenue from 2018.
Last year, an artificial intelligence-driven solutions developer Anymind Group also launched an influencer marketing platform, Casting Asia, before closing a $13.4 million series B round led by Japan’s Line Corporation and Mirai Creation Fund in the same year.
However, Casting Asia and Tellscore target different groups as the former focuses on influencers with more than 200,000 followers while the latter pays attention to micro-influencers with less than 200,000 followers.
Another competitor is Singaporean startup Narratrs, which is the market leader in Indonesia and also targets micro-influencers like Tellscore. Narratrs was backed by Nasdaq-listed The Marketing Group (TMG), which picked 14 per cent equity in the firm in March last year.