Get Rp1.7 T in Funding, Insider Announces Unicorn Status

Jakarta, IDN TimesSoftware-as-a-service startup (SaaS) which provides marketing solutions, Insider has just announced the acquisition of funding worth 121 million United States (US) or equivalent to Rp. 1.7 trillion in a series D round led by the Qatar Investment Authority (QIA).

There were several investors participating in the round. They include Sequoia, Riverwood Capital, 212, Wamda Capital, and Endeavor Catalyst.

For this funding, Insider also claimed unicorn status with a valuation of US$1.22 billion or Rp. 17.5 trillion.

Read also: Insider partner, Harris Naga Putra, decides to return to Indonesia

1. Insider investment plan

Get Rp1.7 Trillion Funding, Insider Announces Unicorn StatusStartup Illustration (IDN Times/Aditya Pratama)

In an official statement received by IDN Times on Wednesday (9/8/2022), Insider plans to allocate funds worth IDR 300 billion for investment over the next three years.

However, startup The Singaporean origin has yet to specify in detail what investments they will make. One thing is for sure the investment is related to their marketing activities which aim to expand the reach of the company’s business.

2. Use of D series funds

Get Rp1.7 Trillion Funding, Insider Announces Unicorn StatusInsider CEO, Hande Clingir (Doc. Insider)

Continue reading the article below

Editor’s picks

Insiders will also use the funding they get as fresh capital to increase local sales and strengthen their core technology.

In addition, Insider is also determined to use this capital to open global recruitment for more than 50 workers within the next three years. Insider also plans to recruit female workers to fill product development positions as well as research and development (R&D).

For information, Insider currently has more than 700 employees spread across 28 countries. Insider itself has operations in 11 regions such as Indonesia, Singapore, South Korea, Hong Kong, Taiwan, Vietnam, and several countries in Europe and Latin America.

“Following our aggressive expansion in Asia, Europe and LATAM, we will carry this momentum in the US market. We are a trusted software partner for leading global brands such as Samsung, GAP, MAC and Santander. We are focused on lasers to bring Insiders into the market. additional markets, and become the number one choice for every marketer in the world,” said Hande Clingir, Founder and CEO of Insider.

Also Read: Insider Receives US$32 Million Series C Funding

3. Insider Profile

Get Rp1.7 Trillion Funding, Insider Announces Unicorn StatusInsider Cofounder

As a startup founded in 2012, Insider provides an artificial intelligence-based platform aka artificial intelligence (AI) which makes its clients actively engage with its consumers in various channels.

The Insider platform is also able to integrate data across all available channels to determine consumer interests and preferences, predict consumer behavior with AI technology, and also provide optimized experiences for consumers.

In Indonesia, Insider has collaborated with several companies such as Garuda Indonesia, Telkomsel, Blibli, BCA, and others.