MDI leads $10m round for Australia's Whispir
MDI Ventures, the corporate VC arm of state-controlled telecommunications firm Telkom Indonesia, has led a $10 million funding round for Australian communications platform Whispir.
Existing investors Telstra Ventures and NSI Ventures also participated. The investment, which is described as post-Series A stage, will be used to expand operation into Indonesia and other Southeast Asian countries via a newly opened Singapore office.
Founded in 2002, Whispir helps corporate clients design communications applications that leverage cloud computing, artificial intelligence and data analytics technologies to improve end-customer experiences and enhance marketing efforts. It claims to have secured more than 450 clients to date.
Nicko Widjaja, CEO of MDI, identified the company as the leader in this segment. Immediate expansion plans are expected to be supported by TelkomTelstra, a joint venture between Telkom Indonesia and Telstra Australia.
“Business everywhere in Indonesia has begun its digital transformation,” Jeromy Wells, founder and CEO of Whispir, said in a statement. “Whispir is able to provide a tech migration channel that is cost-effective and instantaneous.”
Previous investment in the company includes an A$11.7 million ($9.3 million) round in 2016 with participation from Wells, NSI, Telstra Ventures, and Rippledot Capital Advisers, a Singapore-based M&A and private equity consultancy. Telstra Australia also committed A$4.2 million in a 2012 transaction.
Telkom Indonesia and Telstra Ventures launched their joint VC unit in 2016 with a focus on Southeast Asia and Telkom participating via MDI. The partnership followed a 2014 pledge by Telkom to commit $200 million to early-stage technology companies operating in Indonesia.
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