Singapore’s Gimmie gets US$700K investment from IdeaRiverRun
By Digital News Asia November 28, 2014
- Funds to shore up expansion of digital marketing company in Asia
- Its GimmieX is a Data Management Platform offered via SaaS model
PRIVATE investment company and incubator IdeaRiverRun (IRR) has announced an RM2.34-million (US$700,000) investment in Singapore-based Gimmie, which provides digital marketing tools such as loyalty and rewards programmes.
The investment will further strengthen Gimmie’s expansion in Asia with its soon-to-be launched GimmieX, which it described as the region’s first Software-as-a-Service (SaaS) Data Management Platform (DMP).
The newly injected funds will be used to ramp up product development of GimmieX and to provide in-country support for the Gimmie loyalty programme in the region, IRR said in a statement.
[Disclosure: Earlier in November, IRR invested US$300,000 in Digital News Asia for a substantial stake.]
“We are always on the lookout for a game-changer which can make a real difference to the dynamic marketing landscape,” said IRR chairman Vincent Lee.
“We believe that a Data Management Platform and gamification are exciting and practical engines of digital engagement – hence our investment in Gimmie offers strategic value to our digital assets and our clients’ marketing programmes,” he added.
GimmieX will give marketers a significant advantage as they will be able to convert more site visitors through audience segmentation and personalised messaging.
This tool will especially benefit larger enterprises and brands that focus on retention and increasing engagement of current customers through rewards, loyalty and gamification, IRR said.
“Today marks an important milestone for Gimmie,” said Gimmie chief executive officer and founder David Ng (pic).
“When we moved here from Silicon Valley two years ago, we assumed that it was going to be difficult because Asia is a fragmented market. To be successful we’ve learnt that it is not only about your product or team, but it is also about having partners who can help you in this region.
“Therefore, we are excited to partner with IdeaRiverRun. With its tremendous experience in marketing, advertising and content, we believe we’ve found the perfect partner to take Gimmie to the next level,” he added.
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