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AdAsia Holdings raises additional US$2.5million, finalising Series A funding at US$14.5 million

2017-09-28 14:15
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-Additional funds to expand AI-driven matching engine to new industries

SINGAPORE, Sept. 28, 2017 /PRNewswire/ -- AdAsia Holdings, a technology company developing solutions in artificial intelligence (AI) and marketing, today announced the close of an additional US$2.5 million in Series A funding by angel investor, Hisanori Watanabe and news app provider, Gunosy (TKS:6047), finalising its Series A round at a total of US$14.5 million.

Kosuke Sogo, CEO and co-founder of AdAsia Holdings
Kosuke Sogo, CEO and co-founder of AdAsia Holdings

 

Since the initial US$12 million funding by 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.

"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, and will look to bring AI that drives businesses and industries into the future. 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.

AdAsia Holdings will enter discussions 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.

Director and CEO of Gunosy, Yoshinori Fukushima, said: "This unique opportunity to work with one of the fastest growing technology startups in the region allows us to partner with and scale our service in Japan and the greater Asia."

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."

On the decision to select the two parties as investors, Sogo said: "Bringing both Watanabe and Gunosy onboard at this point of the company's growth were strategic moves, providing us access to experienced counsel and further business opportunities."

The Singapore-headquartered company began operations in April 2016, and currently has 10 offices in nine countries, including recent office expansions in Bangkok, Ho Chi Minh City and Tokyo. The company has a global headcount of over 170 staff and more than 300 clients globally. Additionally, AdAsia Holdings generated upwards of US$12.9 million in revenue in 2016, has been operating at a profit since then and is seeing an average of 30% quarter-on-quarter increase in revenue for 2017.

About AdAsia Holdings

AdAsia Holdings is one of the fastest growing technology companies in Asia -- launched in April 2016 by Kosuke Sogo and Otohiko Kozutsumi. AdAsia Holdings looks to enhance marketers' and publishers' prowess through an intelligent platform. Headquartered in Singapore, AdAsia Holdings is a strong believer in localized support and has expanded into 10 cities in 9 countries, with over 170 staff. The company plans to further expand into every major market in Asia, localizing solutions to suit each market's needs.

About Gunosy

Gunosy is a news app provider that started with three graduate students at the University of Tokyo studying AI. Some of our unique features are: We are aiming for a smartphone platform position beyond being a simple news app. Computers are collecting information from around the world and delivering it optimally without editors or reporters.

Our product provides an information curation application that delivers articles that appear to be preferred by users by estimating their attributes, interests and concerns through deep learning.

Media Contact:

Chris Lu
Senior Regional Manager, Communications
chris@adasiaholdings.com
+65-6386-7368

Winston Zhang
Communications Executive
winston@adasiaholdings.com
+65-6386-7368

Photo - https://photos.prnasia.com/prnh/20170927/1952862-1
Logo - https://photos.prnasia.com/prnh/20170927/1952862-1LOGO

Source: AdAsia Holdings

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