Betaout, a customer intelligence and marketing automation platform for e-commerce companies, has raised an undisclosed amount of funding from SEA focused East Ventures and angel investors.
With this funding, Betaout plans to bolster its operations in Indonesia, and other parts of South East Asia, expand their clientele, and focus on product development. The company has further revealed that plans are underway to enhance its mobile offerings, and introduce newer features on its platform such as machine learning, live chat plug-ins.
“Indonesia is an important market for us and having the support and domain expertise of East Ventures, will help us in executing our vision of enabling e-commerce marketers across South East Asia to retain their customers and drive better ROI,” said Ankit Maheshwari, CEO and Co-founder, Betaout.
Prior to this investment, Betaout has served multiple SEA based companies, such as Tokopedia, Ralali, Tripvisto and Lemonilo. Its platform has helped these e-commerce companies to get better analytics on their customers and personalize & automate their marketing campaigns.
Founded in 2010, East Ventures is an early stage VC firm for consumer internet and mobile, based in Indonesia, Singapore and Tokyo. Speaking on the investment, Willson Cuaca, Co-founder and Managing Partner, East Ventures said:
“We are very pleased to partner with the Betaout team, seeing the efforts and innovations that the team has achieved since their founding. The growth potential of the SE Asia e-commerce market is tremendous and Betaout’s focus on this market excites us.”
Betaout believes that Indonesia presents a great opportunity for e-commerce among other emerging Asian economies, with current projections putting this archipelago nation’s e-market at $130 billion by 2020 (coming third behind China and India).