AI-based Marketing Tech Startup SilverPush receives US$5M Series B Funding

Tue Feb 19, 2019 - 9:14am UTC
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19/2/2019 – SilverPush, founded in 2012 by Hitesh Chawla, Aman Nagpal and Vivek Bajpai, is a marketing solutions company that offers context analysis solutions based on artificial intelligence.

The company has presences in more than 10 countries across Asia and Africa including India, Singapore, Thailand, Malaysia, Vietnam, South Africa, United Arab Emirates, Egypt and more.

With the fresh fund received from the series B funding, SilverPush is looking forward to an expansion to the APAC areas including Hong Kong, Australia and South Korea; and increase their artificial intelligence capabilities to be applied on industries other than advertising in the future.

“Since expanding into Southeast Asia in 2018, our business has grown 100% y-o-y with over 30% revenue clocked by our international business. We’ve seen rising customer appetite for on-demand and multiscreen viewing across the APAC region; and at the same time advertisers and brands have become more open to integrating new technologies in their audience outreach strategies,” said SilverPush chief executive officer Hitesh Chawla

SilverPush’s clients include regional brands Tiger Beer, IndoFood, Unilab, and international brands such as KFC, Coca-Cola, Samsung, BMW, Johnson & Johnson and more.

What sets the company apart from other marketing agencies is their expertise in artificial intelligence that gives their product a special edge to better improve the engagements between the brands and their consumers via cross-device trackings and targeted ads.

The latest product from SilverPush is named mirrors. Launched in 2018, mirrors utilises artificial intelligence and computer vision to detect the context in video content to serve related In-Video Ads, which tackles the misplaced advertisement problem while improving the user experience. That way, advertisers can communicate with their visitors better.

FreakOut Holdings Inc, the leading investor for SilverPush’s round B fund, is a marketing technology platform company based in Tokyo, Japan. The company is founded by Yuzuru Honda with offices in Asia, USA, Russia and the United Arabs Emirates.

“The internet video advertisement industry is growing quickly across the Asia Pacific region. We are strong believers in SilverPush’s high level of technology and outstanding product, and see a huge opportunity for them to grow and scale across APAC.” said Yuzuru Honda

This news is published on Reuters.

Lo Jia Thong is a writer that writes about the latest announcements on venture capitals and startups from Southeast Asian countries.