AdEasy, an online marketplace for buying offline ad space, has recently bagged an undisclosed amount of funding from Japanese eGift service provider giftee Inc through its Malaysian subsidiary, Giftee Malaysia. According to AdEasy, this marks giftee Inc's first major investment outside of Japan as it expands into Southeast Asia.
While AdEasy declined to comment on the specific amount of the latest funding round, its spokesperson said that 20% of the recent funds will be used for marketing efforts. Among the list of marketing efforts it will use to promote itself include OOH, PR and digital campaigns.
Additionally, the funds will also be utilised in enhancing the AdEasy platform, and continuing the implementation of advanced campaign tracking and measurement for advertisers. The new funding is on top of the over US$455,000 raised in two previous rounds of crowdfunding, and angel investment. Last year, the company raised over US$200,000 to expand its technology on campaign planning and analytics, as well as to improve the user experience.
According to the company, which was founded in 2017 by Melissa Sim (pictured right) and Therine Goh (pictured left), this brings its valuation to US$4.1 million. Among the AdEasy's list of advertisers include Klook, FashionValet and Vettons. Through AdEasy, advertisers can now access about 28,400 advertising spots.
Sim said the funds and partnership with giftee Inc and Giftee Malaysia will help it scale faster, especially as it enters a time where brands are now looking to expand and grow their businesses post COVID-19. "With expertise from the giftee team, and a ready business community in Malaysia, we are confident that AdEasy will continue to grow aggressively," Sim added.
Mutsumi Ota, CEO of giftee Inc and Giftee Malaysia, said it is delighted to partner with AdEasy and be part of its journey in bringing offline advertising into the future with innovative, and empowering solutions for advertisers and media owners alike.
"We believe that offline advertising still has a role to play as consumer trust in such formats remains high. Hence, leveraging on AdEasy’s extensive offline advertising networks and solutions will be part of our strategy to promote eGifts in Malaysia as well," Ota added.
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