Temasek leads $105m round for Sprinklr
Singapore’s Temasek Holdings has led a $105 million Series F round of funding in Sprinklr, a US-based social media company targeting growth in Asia Pacific.
The investment arm of Singapore's Economic Development Board (EDBI) and US investment firm Wellington Management also participated in the round. According to a statement, the investment values the company at $1.8 billion and brings its total funding to $239 million.
The capital will be primarily used to accelerate technology development and grow the company's engineering, sales and infrastructure presence internationally. This initiative was put in the context of forecasts that there will be at least 1.2 billion social media users in Asia Pacific by 2017 and that the sector's advertising spend in the region will reach $6.7 billion by 2020.
"Asia Pacific represents a tremendous opportunity for Sprinklr, and having two of the region's most respected and well-connected investors as strategic partners makes the opportunity that much greater," a spokesperson for Sprinklr said. "We see an opportunity for strategic growth in Asia Pacific and we're always on the lookout for great talent in the region."
Founded in 2009, Sprinklr offers a cloud-based social relationship platform that allows companies to engage with customers across multiple channels. It claims to be one of the fastest enterprise software-as-a-service companies in history, with revenue during 2015 eclipsing $100 million. The company operates across more than 150 countries with some 1,200 employees. Clients include about 1,200 brands, including more than half of the Fortune 50 companies.
Temasek recently recorded the biggest annual drop in the value of its investment portfolio since the global financial crisis, with assets falling from S$266 billion ($196 billion) to S$242 billion during the 12 months ending in March. The decline reflected the impact of public market volatility on listed investments and was partially offset by the performance of privately-held assets.
More on Southeast Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.