With the help of angel investors from Singapore-based Angel Central, Southeast Asian venture capital firm Wavemaker Partners led an oversubscribed pre-Series A round that saw Singapore customer data platform (CDP) Meiro successfully raise $3 million.
After five years of strong self-funded organic growth and profitability, Meiro announced in a statement on Tuesday that this is the company’s first strategic funding round.
The funding, according to the statement, will be used to quicken the company’s growth trajectory. Its headquarters are in Singapore.
Meiro wants to strengthen its team, accelerate product development, and increase its footprint in Southeast Asia and Europe. It also has offices in Central Europe.
The business also intends to expand into new markets, with the opening of a branch in Dubai scheduled for 2024 being the first move in this direction.
“We are thrilled to have gained the trust of some of the best brands in Southeast Asia after years of building a sustainable business,” said Meiro Co-founder and Chief Executive Officer Jana Marlé-Zizková.
“We are excited and appreciative of the opportunity to partner with the region’s most respected venture capital funds, Wavemaker Partners and the Angel Central group,
“In choosing our partners, we prioritized synergy in values, the chemistry between the teams, and their deep understanding of our business-to-business (B2B) enterprise software industry,” she adds.
Owing to the swift transition towards the use of first-party data and the growing difficulties associated with customer data privacy laws, she believes that there is an unparalleled demand for technological solutions like Meiro.
“While we have always been self-sufficient, this investment will help us address market demand, accelerate the development of our product and business, and strengthen our presence in the international markets while we have a competitive advantage,” she adds.
The statement claims that as data privacy laws have changed, third-party cookies—which aid brands in comprehending consumer behavior and preferences—have become less common.
This trend poses a significant challenge for brands, as do skyrocketing marketing expenses.
Meiro was established in 2018 by Pavel Bulowski, Jana Marlé-Zizková, and Vojtęch Kurka. All three had previously worked as data consultants for Southeast Asian companies. Their mission is to enable brands to understand and interact with their customers more deeply, which will improve marketing effectiveness and maximize return on investment (ROI) through satisfied customers.
