Singapore-based SaaS startup Epsilo has bagged US$ 2M in a funding round held in December 2020, from Sequoia Capital India’s Surge.
According to a press statement, proceeds from the funding round will be used by the startup to strengthen its technological competencies and further expand its presence across the rest of Asia.
The startup is part of the fourth cohort of Surge, a twice-a-year rapid scale-up program for startups in Southeast Asia and India.
Founded in July 2019 by Quang Tran, Epsilo is an e-commerce SaaS startup that offers a marketing platform that helps e-commerce marketers and category managers provide effective advertising operations across all the major online retail platforms in Southeast Asia. It enables brands and dealers to improve their ad spend for keywords, budget and catalog in order to make the best use of revenue. Its platform enables dealers to combine and automate campaigns while optimizing for keywords and budget on its dashboard. It also offers real-time catalog tracking to make sure brands are only producing demand for goods they have in stock and evaluates the usefulness of campaigns both at the user level and stock-keeping unit (SKU) level, with the skill to transfer real-time data to a company’s main intelligence tool. It also aims to boost its client’s e-commerce sales engine by providing visions and suggestions that can be turned into practical action.
Epsilo is active in seven markets across the Asia Pacific and has partnered with over 200 customer brands, including Unilever, Nestle and L’Oreal. It claims its software supports more than 400 online shops that together generate over US$ 280M in yearly gross merchandising value (GMV).
Quang Tran was quoted to have said, “Ninety-seven per cent of digital ad dollars are spent on ads that don’t drive a direct revenue return, and the shift of shopping on mega e-commerce platforms and the opening up of ad inventory on those marketplaces have created a new opportunity for performance marketers.”
About Surge
Surge, an initiative by Sequoia India, a leading venture capital firm, is a 16-week program held virtually on one day each week. The program covers the basics of company building, concludes with an investor week called UpSurge, and comes forward with a team from Sequoia helping founders design, organize and grow their startup as they learn. It takes place twice a year and is open to companies who are based in or building for the Indian and Southeast Asian markets. Each Surge cohort generally includes 10 to 20 companies.
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