Wamda portfolio company Insider has closed a $32 million Series C funding round led by Riverwood Capital and joined by Sequoia India, Wamda and Endeavor Catalyst.
The Singapore-based digital marketing software-as-a-service (SaaS) company will use the funds to enhance the platform’s capabilities, grow its engineering team and invest in the company’s global sales and marketing efforts.
Insider’s artificial intelligence (AI)-powered platform enables enterprise marketers to connect customer data across channels and systems, predict their future behavior with an AI-powered intent engine, and orchestrate and deliver individualised experiences to customers. Its platform is unique in how it offers the widest set of product features in the market while coordinating all offline and online data across the unified platform and its various engagement channels.
The AI intent engine consists of 15+ algorithms that enable marketers to make precise predictions such as which customer segments are likely to convert, buy, and churn — and then design the most optimised experiences accordingly.
Ultimately, Insider enables digital marketers to drive growth across channels, and throughout the funnel from acquisition to activation, revenue and retention (AARR) — thereby impacting ROI metrics such as conversion rate, and average order value.
To date, the company has raised $47 million and now has teams on the ground in 24 countries to provide deep localisation for its 800 global clients including UNIQLO, Singapore Airlines, Marks & Spencer, Estée Lauder, Virgin, Samsung, Carrefour, Dominos, Toyota, Newsweek, Avon, MediaMarkt, AVIS, Allianz, BBVA, IKEA and CNN.
“So far, we’ve focused on leading in high-potential markets in the Eastern part of the world. We plan to grow substantially in our existing 24 countries and we are now ready to enter the US market and believe that our fresh solutions to marketers’ biggest pain points will be a major differentiator,” said Hande Cilingir, co-founder and CEO of Insider.
The beginning of the pandemic saw a rapid surge in demand for e-commerce and media companies worldwide. Insider’s digital sales team was well-positioned to turn this increasing traffic into conversions by helping their partners respond to ‘net new digital behaviours’ in real time. In the post-Covid market, brands will need to digitise more than ever. As online consumption increases and shoppers start reprioritising their postponed purchases, Insider expects to continue its accelerated levels of growth.