
KKR media platform leads $65m round for Southeast Asia's aCommerce
Emerald Media, an Asian investment platform created by KKR, has led a $65 million Series B funding round for Thailand-based online retailing services company aCommerce.
Existing backers Blue Sky Alternative Investments, MDI Ventures and DKSH also participated. The capital will be used to build out the company’s technology platform and expand activities across Southeast Asia.
Technical work is expected to focus on integrated business-to-consumer networks, including online brand stores and e-marketplaces, as well as business-to-business channels with real-time data analytics. Operational expansions are planned for Singapore, Indonesia, Thailand, the Philippines, Malaysia, and Vietnam.
“What gives us confidence in aCommerce is the company’s highly brand-centric technology platform that enables clients to simply plug in and use all operating systems, channel distribution methods and demand generation applications across the region,” Paul Aiello, managing director and co-founder of Emerald, said in a statement. “This provides new entrants a quick way to roll out multi-channel operations in these exciting markets without building large local operations.”
Launched in 2013, aCommerce claims to be Southeast Asia’s leading e-commerce services provider, with a focus on distribution, content production, logistics and marketing strategies. Clients include Samsung, Nestle, L’Oreal and Philips.
The company received a $10 million round last year led by MDI. Previous investors also include Ardent Ventures, Inspire Ventures Thailand, Sinar Mas Group, Asia Pacific Digital, CyberAgent Ventures, Inspire Ventures Thailand, JL Capital, NTT Docomo Ventures and Sumitomo Corporation Equity Asia.
Emerald targets control and significant minority positions in media and entertainment companies across Asia Pacific via bases in India, Hong Kong and Singapore. KKR committed $300 million to the platform in 2015 via its second pan-Asian fund, which closed at $6 billion in 2013. Media holding company The Chernin Group is a minority co-investor.
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