Circus Social, a software-as-a-service (SaaS) company based in Singapore and Bangalore, has raised US$1 million in a pre-series A round led by Inflection Point Ventures.
Other investors that joined the round include Saurabh Gupta, a director at the DC Office of the State Superintendent of Education; Ganesh Mohan, head of strategy at Bajaj Finserv; Samit Shetty, CEO of Navi FinServe; Srinivasan Vankita Padmanabhan, president and global head of finance at Olam Group; and Royston Tay and Yang Bin Kwok, co-founders of Zopim.
Founded in 2013, Circus Social is an AI-powered social and digital data analytics and big data platform company that specializes in social listening, research, and digital monitoring.
It helps businesses make decisions from social media conversations in real-time, including conversations about brands, products, campaigns, and competitors. It currently has clients from over 15 countries in the Asia Pacific.
With the new funds, the SaaS firm plans to accelerate its growth in other geographies, strengthen its sales, engineering, and data sciences teams, as well as scale new revenue streams over the next 12 months, said the company in a statement.
According to Circus Social, 4.8 billion people across the world use the internet while 3.9 billion are on social media platforms - that's approximately 51% of the global population. The company said that its addressable market has reached US$7 billion and the global social and digital data analytics market is growing at 30% per annum.
ARTICLE WRITTEN BY: DORIS YU & EDITED BY: EILEEN C. ANG
Doris Yu is a Tech in Asia writer, and a finance and technology writer based in Hong Kong.
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