Funds to shore up expansion of digital marketing company in Asia
PETALING JAYA (SELANGOR), 28 November 2014 - IdeaRiverRun, a private investment company and incubator, today invested RM2.34 million (US$700,000) in Singapore-based Gimmie, a leading provider of digital marketing tools such as loyalty and rewards programs.
The investment will further strengthen Gimmie’s expansion in Asia with its soon-to-be launched GimmieX, the region’s first Software-as-a-Service (SaaS) Data Management Platform (DMP) and new customer wins for its Gimmie Loyalty Platform. The newly injected funds will be used to ramp up the product development of GimmieX and to provide in-country support for the Gimmie Loyalty Program in the region.
GimmieX will give marketers a significant advantage as they will be able to convert more site visitors through audience segmentation and personalized messaging. This powerful tool will especially benefit larger enterprises and brands that focus on retention and increasing engagement of current customers through rewards, loyalty and gamification. The latter uses game playing elements like competition, points and leader boards.
“We are always on the lookout for a game changer, who can make a real difference to the dynamic marketing landscape. We believe that a Data Management Platform (DMP) and gamification are exciting and practical engines of digital engagement, hence our investment in Gimmie offers strategic value to our digital assets and our clients’ marketing programs,” said Tan Sri Vincent Lee, Chairman of IdeaRiverRun Group of companies.
“Today marks an important milestone for Gimmie. When we moved here from Silicon Valley two years ago, we assumed that it was going to be difficult because Asia is a fragmented market. To be successful we’ve learnt that it is not only about your product or team, but it is also about having partners who can help you in this region. Therefore, we are excited to partner with IdeaRiverRun. With their tremendous experience in marketing, advertising and content, we believe we’ve found the perfect partner to take Gimmie to the next level,” said David Ng, CEO & Founder, Gimmie.
The investment in Gimmie comes close on the heels of IdeaRiverRun’s recent acquisition of a major equity in Digital News Asia, a popular regional technology news portal.
IdeaRiverRun is a private investment company and incubator that identifies and works with talented individuals and companies to create the best possible platforms in the digital age, to meaningfully engage and serve clients and communities. IRR previously launched http://cilisos.my, a popular Malaysian news portal and bought into Digital News Asia.
Gimmie provides digital marketing tools to acquire, convert and retain more customers on web and mobile. For the past two years, customers on the platform include some of Asia’s largest telcos, media companies, retailers and brands. More info can be found at its homepage: www.gimmie.io
For media queries, please contact:
David Ng – CEO / Founder
Chong Wei-Hsiang, Milk PR