TADA, an end-to-end customer retention platform based in Indonesia, has raised an undisclosed amount of Series B1 funding, led by MDI Ventures, the VC arm of Telkom Group.
TMI, the venture capital arm of the Telkomsel, and existing investors Finch Capital (Netherlands) and Sovereign’s Capital (PE firm), also joined the round.
The capital infusion will further enhance TADA’s core technology platform and infrastructure.
A portion of the money will go into strengthening its position in Indonesia and expanding its go-to-market strategies in the Southeast Asia region by growing its engineering teams, enterprise and SME sales teams, and recruiting strategic channel partners.
Launched in 2012, TADA aims to improve businesses’ sustainability by helping them retain customers better using solutions like digital membership, subscription, referral and digital rewards.
Its solution is adopted by both local and global enterprises in fast-growing industries in Indonesia, Malaysia and the Philippines.
Its clients include AXA, Allianz, DBS, UOB, Unilever, Castrol, Exxon, Kalbe Nutritionals, Erha Dermatology and Bakmi GM.
Antonius Taufan, founder of TADA, said: “We feel very grateful to be able to raise this funding in the midst of the pandemic, and for the unwavering confidence from MDI Ventures and TMI as the leading and influential companies in Indonesia. Today’s investment will allow us to deliver our mission to improve business’ sustainability by enabling them to retain customers better.”
“We see an opportunity for a synergistic partnership between TADA and Telkom Indonesia to bring a more exciting and beneficial engagement and collaboration between various enterprise clients within the Telkom ecosystem. This funding is also aligned with MDI Ventures’ long-term goal to empower the growth of digital entrepreneurship,” added Donald Wihardja, CEO of MDI Ventures.
Image Credit: TADA
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