Nusantara invests in clickTRUE’s expansion into Indonesia
By Digital News Asia July 12, 2012
- Series A venture funding into clickTRUE Indonesia led by Nusantara Ventures
- Indonesia an important market as digital market penetration and patterns just emerging
REGIONAL online marketing and advertising agency clickTRUE’s expansion into Indonesia has received got a boost with Series A financing led by Nusantara Ventures.
clickTRUE specializes in search and conversion strategies to help brand owners strategize, design and build compelling web experiences. Its Malaysian office received MSC Malaysia status last year.
clickTRUE Indonesia operates under its parent company clickTRUE Pte Ltd, headquartered in Singapore, and is set up by the founders of HardwareZone.com, the company said in a statement.
“Our vision is to differentiate ourselves as a top specialist in the search marketing space in South-East Asia, and the expansion into Indonesia propels us toward becoming a regional brand and agency to better support our multinational clients and partners,” said clickTRUE chief executive officer Jackie Lee.
“We’re … committed to establishing ourselves steadily and gaining a strong foothold in Search and Performance Marketing in Indonesia to become a trustworthy partner for companies to work with, and capture the increase in digital expenditure when online consumption grows,” he added.
With a population of 240 million and approximately 40 million Internet users, Indonesia is an important market for clickTRUE as digital market penetration and patterns are just emerging, the company said.
The current internet penetration rate is at 17% and it is rapidly growing but digital ad spends only averages a mere 2%.
Earlier in March 2012, Google set up office in Indonesia – a strong indicator that Indonesia has untapped market potential, clickTRUE said.
The company also said that Shinta W. Dhanuwardoyo, founder of Bubu.com and managing partner at Nusantara Ventures, will sit on the board of directors at clickTRUE Indonesia.
“There is so much potential for growth in Indonesia. clickTRUE has the expertise and tools to help businesses in Indonesia click their way to success,” said Shinta.
“With the evolving Internet landscape, it’s still very exciting for me to be a part of this even though I’ve been doing this for years. This is exactly what we need for Indonesia to move forward in terms of performance marketing in the digital space,” he added.
clickTRUE was awarded the Yahoo! Platinum Search Marketing Agency Ambassador for South-East Asia region in May. It was also the first Google Analytics Certified Partner in South-East Asia.
clickTRUE is held by Kyosei Ventures which is an associate of the Singapore Press Holdings and currently has offices in Singapore, Malaysia, Thailand and Indonesia.
Nusantara Ventures is a pioneering technology venture capital fund in Indonesia. Focusing on early to mid-stage investment, it invests primarily in the digital media, entertainment, mobile and consumer Internet sectors.