Gurugram-based marketing technology platform SilverPush has raised $5 million in its series B funding round led by FreakOut Holdings, a Tokyo-based marketing technology company.
For the uninitiated, FreakOut Holding is founded by Yuzuru Honda with offices in Asia, USA, Russia, and the United Arabs Emirates.
Previously, the startup had raised $1.25 million in pre-series A round from Japan-based fund, M&S Partners and existing investors Chiratae Ventures (IDG Ventures) and 500 Startups. Interestingly, there is no mention of the company’s raising Series A round.
The six-year-old startup will use the proceeds for global expansion of its artificial intelligence capabilities with a view to applying it outside of advertising.
SilverPush is targeting the Asia Pacific markets, specifically Hong Kong, Australia, and South Korea. Besides, the startup is looking to tap into the over-the-top space.
For OTT, it will launch a new product called Mirrors, followed by the relaunch of another product called Prism, as a brand reputation monitoring platform.
It also runs products namely Parallel, DSP, Hexa, and Javelin.
The Hitesh Chawla-led company counts more than 1,000 clients under its portfolio and worked on the campaigns of Indofood, Unilever, Tiger Beer, Unilever, KFC, Coca-Cola, Samsung, and Johnson & Johnson.
According to Chawla, the firm is expecting its global business to contribute to over 50 per cent of revenue, and expect to hit an annual target of $25 million over the next two years, reports the Business Times.
Apart from the APAC region, SilverPush is also present in South Africa, Tanzania, Egypt, and the United Arab Emirates.
IndiaMart CEO Dinesh Agarwal, Unilazer Ventures and GSF Accelerator have also invested in SilverPush.