Taiwanese martech startup Wavenet raised series B round, aims to launch IPO within 2 years
PR97363
TAIPEI, Aug. 11, 2022 /PRNewswire=KYODO JBN/ --
Wavenet, which specializes in marketing technology, recently raised nearly
USD$3 million in the series B round. "Our future goal is clear: We'll have our
IPO within 2 years and Taiwan will be our first choice for IPO venue," said Tim
Hsu, the founder and CEO of Wavenet.
Wavenet's biggest investor in this round is Cornerstone Asset Holdings, a
Silicon Valley fund focusing on SaaS and education.
The amount of the funding is not large, but Tim Hsu mentioned that the
investor's assistance in exploring the North American market is what matters.
With the funding and investors' help, Wavenet will expand its operations to
Japan and North America, and is planning to hire more international talents to
join the team. They expect to double the data analysis team.
Silicon valley's investor Cornerstone Asset Holdings said that in the
post-pandemic era, both B2B marketing and B2C or C2C e-commerce will become
more dependent on traffic platforms. Wavenet's growth from an Adtech
(advertising technology) company to a Martech company as well as its
comprehensive deployment of becoming an agency for tech giants could enable it
to enter the North America market or any other market seamlessly.
With two marketing product, Wavenet help customers expand to the global market
Wavenet provides two major services. One is the advertising traffic service,
which helps customers to buy ads on Facebook, Google, Twitter, etc. The other
is SaaS service. Wavenet developed its own Orca system, which, in combination
with the technologies from other MarTech companies, allows for remarketing,
audience analysis, and public opinion monitoring by customers' members.
Besides, it also provides OrcaPro system to allow for B2B clients to target
global marketing activities.
In the field of advertising traffic, Wavenet has worked with domestic clients
such as LG Household & Health Care and Yannick. And overseas, it has cooperated
with companies like Hong Kong Gifts & premium Fair, and Au Huat Coffee
(Malaysia). In terms of SaaS system, Wavenet's clients include Chunghwa Telecom.
"Wavenet aims to become the MediaTek in the field of MarTech, and an
indispensable key component for our customers." Tim said, "Scalability and
concatenation capabilities are Wavenet's keys to creating MarTech products, and
there are many players in the market possessing in-depth and delicate
technologies, so our products have to be concatenated with theirs to allow our
clients to choose the services they want. After all, customers want a hole in
the wall instead of a drill in their hands."
It is learned that Wavenet's annual revenue is around USD$20 million, in which
the revenue ratio of SaaS to advertisement is about 1:2. But in the future,
Wavenet will strive to increase the percentage of SaaS to close to that of
advertisement.
Regarding overseas deployment, Wavenet is one of the few companies that stand
steadily in China market and has acquired the 22-year-old advertising company
Singnan Communications in Malaysia. In addition, Wavenet is expanding its
services to other countries, and is expected to establish a branch in Japan.
Source: Wavenet Technology
Image Attachments Links:
Link: http://asianetnews.net/view-attachment?attach-id=427114
Caption: The Founder and CEO of Wavenet Technology, Tim Hsu.
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。