Feedloop Raises Seed Funding from East Ventures
19 June 2019
JAKARTA, 19 JUNE 2019 — Feedloop, a marketing SaaS company, announced earlier today that it has secured an undisclosed amount of seed funding from East Ventures and several angel investors. The investment will help Feedloop in pursuing their mission to build the next generation interactive content experience to help companies in their brand activation initiatives.
Founded in late 2018, Feedloop was born to fulfill the needs of modern marketers to cater for new generation of audience, namely Generation Z and Millennials, for whom traditional one- directional marketing is no longer effective. Feedloop provides the building blocks for marketers to create highly interactive marketing campaigns such as survey, quizzes and interactive storytelling.
“This generation of consumers expect a two-way dialogue with their brands, simply delivering message is not enough,” says Ahmad Rizqi Meydiarso, co-founder and CEO of Feedloop, who also previously co-founded Kata.ai, a conversational AI company in Indonesia. “Showing ads to promote your product or brand is no longer working. You have to invest in building contents that spark dialogue and give value to your audience”.
Within just less than 6 months of operation, the company had successfully executed pilot projects with multiple brands and digital marketing agencies to test the potential use cases of such technologies. The two campaign examples are for social media engagement and talent acquisition funnel management. For social media engagement, Feedloop assisted Liga1 (highest professional football division of the Indonesian football league system) and its agency Panenmaya to build a brand engagement campaign on Instagram. Users filled in the survey to find out which Liga1 players was most alike to them, to then posted the result on their personal Instagram story. This campaign successfully attracted 20,000 unique user’s posts in just one single day, totaling over 30,000 posts in two consecutive days.
For talent acquisition funnel management, Feedloop assisted Paragon (one of Indonesia’s largest cosmetic producers owning brands of Wardah, Make Over, Emina, IX, dan Putri) in creating interactive campaign builder to improve Paragon’s talent acquisition funnel. Rather than just clicking through job application pages, applicants’ journey started from checking whether their personality suited to the related position they applied for. For employers, this helps to map suitability of the candidates prior to engaging with them directly.
“By providing the much-needed tools to build immersive interactive experience, Feedloop can dramatically reduce the time-to-market of a creative campaign while reducing the cost if compared to custom vendor-built campaigns,” adds Ronaldi Kurniawan, co-founder and CTO of Feedloop. “Thus, we are relieving marketers burden, to let them focus on the most important thing: the creative process. We also give them the ability to continuously improve through the feedback loop made possible through our analytics system”.
Feedloop also collaborates with Narasi.tv (an online media platform providing video content with journalistic approach) to create highly interactive digital media experience that allows viewers of the program to provide real-time feedback. “We are excited to work with Feedloop to create second to none interactive experience for our audience,” says Catharina Davy, Co-founder and CEO of Narasi.tv.
According to PwC, Indonesia’s digital media spending is among the fastest growing in the world, with PQ Media estimating its ads spending at USD $12B. Despite the large spend, key challenges lie in digital skill or resource gaps for content marketing: how could marketers design a great overall customer experience to improve brand engagement, thus results in higher marketing ROI. Feedloop believes that interactive digital content is the solution.
Commenting the funding, Muhammad Ajie Santika, co-founder and CMO of Feedloop who established his reputation as a game industry veteran, says, “We are excited to work with East Ventures in this new frontier in marketing technology, as they already established themselves as a trailblazer in Indonesian Venture Capital ecosystem”.
Melisa Irene, Partner of East Ventures says, “We believe that with more than 150 million Indonesian consumers already online, personalization will be key strategy for brands and companies to reach customers more effectively. Feedloop team has the right mindset as they bring product- based approach to help companies innovate on personalized brand experience in multiple use cases.
Feedloop is a interactive content marketing platform that helps marketers and growth hackers building engaging campaigns that drives high user engagements. Founded in late 2018, Feedloop aims to disrupt the way brands connect with its customers especially to appeal to Millenials and Generation Z.
About East Ventures
East Ventures is an early stage venture fund focused on Southeast Asia and Japan. Over several years, East Ventures has invested in hundreds of companies in Indonesia, Singapore, Japan, Malaysia, and Thailand. The majority of East Ventures’ portfolio firms have been able to raise follow-on financing rounds.
East Ventures has a strong track record in developing pan-Asia tech-ecosystems and backing startups in their early days. The company has invested in over 140 startups and among them are named the unicorn. Success cases include companies such as Tokopedia, Traveloka, Warung Pintar, Fore Coffee, Disdus (acquired by Groupon), Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Omise, IDN Media, Ruangguru, MokaPOS, ShopBack, and CoHive.