Feedloop raises seed funding from East Ventures
By Digital News Asia June 20, 2019
- Fulfills the needs of modern marketers to cater to Generation Z and Millennials
- Provides building blocks for marketers to create interactive marketing campaigns
FEEDLOOP, a marketing SaaS company, announced on June 19 that it has secured an undisclosed amount of seed funding from East Ventures and several angel investors.
The investment will help Feedloop in pursuing their mission to build the next generation interactive content experience to help companies in their brand activation initiatives.
Founded in late 2018, Feedloop was born to fulfill the needs of modern marketers to cater for new generation of audience, namely Generation Z and Millennials, for whom traditional one-directional marketing is no longer effective. Feedloop provides the building blocks for marketers to create highly interactive marketing campaigns such as survey, quizzes and interactive storytelling.
“This generation of consumers expect a two-way dialogue with their brands, simply delivering message is not enough,” says Feedloop co-founder and chief executive officer Ahmad Rizqi Meydiarso, who previously co-founded Kata.ai, a conversational AI company in Indonesia.
“Showing ads to promote your product or brand is no longer working. You have to invest in building content that sparks dialogue and gives value to your audience”.
Within less than six months of operation, the company had executed pilot projects with multiple brands and digital marketing agencies to test the potential use cases of such technologies.
“By providing the much-needed tools to build immersive interactive experiences, Feedloop can reduce the time-to-market of a creative campaign while reducing the cost if compared to custom vendor-built campaigns,” adds Feedloop co-founder and chief technology officer Ronaldi Kurniawan.
“Thus, we are relieving marketers’ burden, to let them focus on the most important thing: the creative process. We also give them the ability to continuously improve through the feedback loop made possible through our analytics system”.
According to PwC, Indonesia’s digital media spending is among the fastest growing in the world, with PQ Media estimating its ads spending at US$12 billion.
Despite the large spend, key challenges lie in digital skill or resource gaps for content marketing: how could marketers design a great overall customer experience to improve brand engagement, thus resulting in higher marketing ROI.
Feedloop believes that interactive digital content is the solution.
Commenting on the funding, Feedloop co-founder and chief marketing officer Muhammad Ajie Santika, who established his reputation as a game industry veteran, says, “We are excited to work with East Ventures in this new frontier in marketing technology, as they have already established themselves as a trailblazer in the Indonesian Venture Capital ecosystem”.
Melisa Irene, partner of East Ventures says, “We believe that with more than 150 million Indonesian consumers already online, personalisation will be a key strategy for brands and companies to reach customers more effectively.
“The Feedloop team has the right mindset as they bring a product-based approach to help companies innovate on personalised brand experience in multiple use cases.”