Jakarta-based offline-to-online advertising technology company StickEarn has secured USD 5.5 million in a Series A round co-led by East Ventures and SMDV.
Other investors included Grab, OVO, and Agaeti Ventures, the company said on Tuesday.
The fresh funds will be used to explore new opportunities from different verticals and enhance the company’s data and analytics capabilities, according to the firm.
“With this round of funding, we look to hire the best talents in the industry to make further improvements and develop new products, further strengthening the relationship between agencies and StickEarn to satisfy the growing needs of our clients,” said co-founder Archie Carlson in the press statement.
StickEarn was founded by Garry Limanata, Sugito Alim, Hartanto Alim and Carlson in 2017. The firm act as intermediary connecting brands with drivers to generate advertising solutions. The company recently expanded into several verticals such as outdoor advertising, indoor advertising, and smart retail.
According to the firm, within two and a half years, StickEarn has worked with over 300 clients and brands and its revenue has grown by more than 300%.
StickEarn operates in 31 cities across Indonesia and has a presence in six countries. It offers various advertising options for cars, motorbikes, buses, and even airplanes, among other vehicles.
“We will grow a number of different verticals that can offer 360 degrees of multi-platform campaigns for clients. This will result in a more holistic experience for our clients and enable them to integrate offline and online marketing strategies. We also aim to provide more data-driven campaign reports and technological advancement so that we can help clients make better decisions,” said co-founder Garry Limanata.