MarketingFeaturedSoutheast Asia

Malaysia-based ad tech company Rodeo eyes raising $120K, opens round of funding

MARKETECH APAC - October 6, 2020

Kuala Lumpur, Malaysia – Rodeo, an ad-tech company specializing in transit advertising mainly on ride-sharing, food delivery, and last-mile delivery has announced that it targets to raise a minimum of $120K (RM500K), and has opened its first round of funding via equity crowdfunding platform pitchIN.

The company is currently live on pitchIN, and it has prepared an exclusive 30% lifetime discount or rebate from all Rodeo media assets to brands, advertisers, and agencies who will be investing.

Inspired by the company’s revenue that hit $1.2M (RM4.4M) in 3 years, Rodeo seeks to increase the bar even higher by setting a new target revenue of $500K (RM1.9M) by end of 2021.

The investments raised will be used to increase workforce, to incorporate AI technology such as Computer Vision and Machine learning, and for marketing to scale the business and capture market share.

Launched three years ago, Rodeo comprises of 10,000 fleets of cars, taxis, motorcycles, and trucks. During the country’s Movement Control Order (MCO) amid the pandemic, it decided to pivot to online by introducing RodeoGO, an influencer marketing gamification app,

Rodeo’s Chief Executive Officer and Founder Valens Subramaniam shared, “Due to the pandemic, we saw that there was a growing demand and trend for RodeoGO especially when users are practically on idle mode; be it at home and glued on their mobiles phones, TVs and computers. This brings us a good mix of Offline and Online.”