Sydney, Australia – SME marketing company Metigy in Australia has recently concluded its funding round, which the startup will use in expanding its services globally.
The funding, closing at USD 20M, will be initially used to expand its business to the United States and Southeast Asia, specifically in Singapore. Furthermore, the funding will also aid in growing the company’s product and engineering teams in Australia.
We’ve had fantastic growth so far but it’s just the beginning — there’s a massive opportunity to help the nearly 30 million small businesses in the U.S. and 150 million businesses across South East Asia. According to Google, 97% of SEAsian SMEs have no ad tech or martech solutions and also lack the supply of talent to meet that demand. Innovative technology developed with the SME in mind is the only way to solve this problemDavid Fairfull (pictured left), CEO and co-founder at Metigy
He also added,“We created Metigy to make digital marketing an effective tool for all types of businesses, not just those with massive marketing budgets. Half of all small businesses fail within the first two years, and marketing — or a lack of effective marketing — is always one of the key reasons. We want to improve those odds and give them a fighting chance.”
The startup is working closely with Google and telecommunications company Optus, and has created strategic partnerships with companies such as Singapore’s SingTel, who co-sell Metigy’s tools to add value to their own business customer relationships.
Speaking about the funding round, Darien Jagger, lead investor at Cygnet Capital, states that Metigy’s fast expansion pushed the venture capital to invest in the startup.
“Cygnet was an early-stage investor in Metigy and after seeing their impressive growth, it absolutely made sense to lead this current raise. Completing the raise 100% oversubscribed in this market with an all Australian investor group is a testament to the solid business the team has built. Strategically, this also places Metigy firmly on the path to remaining Australian based,” Jagger stated.