Martech startup Zanroo closes $7.4m Series A, aims to be first Thai unicorn by 2019

Zanroo founders Udomsak Donkhampai (left) and Chitpol Mungprom. Image from Zanroo website

Thai marketing technology (martech) startup Zanroo said it is gunning to be the country’s first unicorn — startups valued at $1 billion or more — by 2019 after it closed a $7.4 million Series A funding round led by Bangkok-based Shift Ventures.

It said private funds, institutional investors, notable business owners and individuals, who asked not to be named, also joined its latest round.

Zanroo, founded in 2013 by Chitpol Mungprom and Udomsak Donkhampai, offers total web-based social intelligence solutions that integrate social listening, monitoring, engagement and customer service.

“This is our first fundraising since we officially launched four years ago. In the past, we only used our working capital to grow the business. However, the proceeds from this round will enable us to expand our business overseas much faster,” said Zanroo’s co-founder and chief executive Mungprom.

Zanroo is currently active in 15 countries including Thailand, Malaysia, Singapore, Indonesia, the Philippines, Myanmar, Cambodia, Vietnam, Japan, Taiwan, Australia, Sri Lanka, Pakistan and Britain. It now aims to expand to 40 countries and generate revenues of 1 billion baht ($29.4 million) over the next three years.

“We’ve chosen to expand in the Asian countries first as they are less competitive. Then, we are going to tap into China, the United States and Europe,” Mungprom said.

Of the total proceeds from this round, 40 per cent will be used for market expansion, 30 per cent for product and service development and the rest 30 per cent for marketing.

There are about 300 players in the global market for martech and advertising technology (adtech) services, totalling worth $24.18 billion.

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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.