Singapore: Epsilo, an e-commerce SaaS startup with a presence in Singapore and Vietnam, announced today it has raised US$2 million in funding from Sequoia Capital India’s Surge.
As per a press statement, Epsilo will use the fresh funds will be used to bolster its technological capabilities and further expand its footprint across the rest of Asia.
The company is part of the fourth cohort of Surge, a bi-annual rapid scale-up program for startups in Southeast Asia and India.
Launched in July 2019, Epsilo is a performance marketing platform built specifically on top of e-commerce platforms and designed for the needs of those selling goods at scale. It enables brands and merchants to optimize their ad spend for keywords, budget, and inventory in order to maximize revenue.
The firm said it enables merchants to unify and automate campaigns while optimizing for keywords and budget on its dashboard.
It also provides real-time inventory tracking to ensure brands are only generating demand for goods they have in stock and analyses the effectiveness of campaigns both at the user level and stock-keeping unit (SKU) level, with the ability to export real-time data to a company’s main intelligence tool.
Epsilo is present in seven markets across the Asia Pacific and works with over 200 customer brands, including Unilever and L’Oreal. It claims its software supports more than 400 online shops that collectively generate over US$280 million in annualized gross merchandising value (GMV).