StickEarn raises US$5.5M from Grab, others
StickEarn, an Indonesian offline-to-online advertising technology company, has announced that it has closed US$5.5 million in an oversubscribed Series A funding round co-led by East Ventures and SMDV.
Grab, OVO, and Agaeti Ventures also joined the round.
The company said that the funding will enable it to “explore new opportunities from different verticals and enhance its data and analytics capabilities”.
“With this round of funding, we look to hire the best talents in the industry to make further improvements and develop new products, further strengthening the relationship between agencies and StickEarn to satisfy the growing needs of our clients,” said StickEarn Co-founder Archie Carlson.
According to Garry Limanata, another Co-founder of StickEarn, “We will grow a number of different verticals that can offer 360 degrees multi-platform campaigns for clients. This will result in a more holistic experience for our clients and enable them to integrate offline and online marketing strategies. We also aim to provide more data-driven campaign reports and technological advancement so that we can help clients make better decisions.”
StickEarn was started in 2017 and officially launched in 2018 by Carlson, Limanata, Sugito Alim and Hartanto Alim in Jakarta. The company runs the measurable out-of-home advertising and seeks to connect drivers and brands to create effective and intelligent advertising.
Since then, the company has expanded and ventured out into several verticals such as transportation advertising, outdoor advertising, indoor advertising, and smart retail.
As a patented in-car sampling distribution and retail platform, StickEarn offers advertising options such as StickMob (car), StickMotor (motorbike), StickBus (bus), StickAngkot (Angkot), StickPlane (aeroplane), and StickMart (in-car retail).
StickEarn claimed that it has expanded operationally to 31 cities across Indonesia and has a presence in six countries.
Last month, StickEarn launched its latest product called StickTron, a 3-sided advertising LED Truck that drives specific routes within the city.