TPG affiliate co-leads $25m round for Singapore's Taiger

SGInnovate, the venture capital arm of the Singapore government’s Infocomm Media Development Authority, and several unnamed strategic investors out of Mexico also participated. SGInnovate featured in Taiger’s $5.9 million Series A in 2017, which was led by Tembusu Partners. Following the Series B, the company has achieved a valuation of $110 million.

Taiger’s AI solutions use human-like logic to automatically read, understand and extract information, overcoming the limitations of traditional machine learning. The goal is to replicate the intelligence of a human worker, enabling companies to reduce costs and processing time – without compromising on quality – by automating business applications.

Banking industry clients include Bank of America Merrill Lynch, Santander and BBVA. They use Taiger for tasks such as processing new account applications and onboarding customers. The company also works with several Singapore government agencies, helping them with customer services, data mining, and human resources management. 

Taiger has offices in Hong Kong, New York, Madrid, Mexico City, and Dubai, in addition to Singapore. It will use the new funding to expand its geographic footprint, with plans to launch services in South Korea and Japan and further penetrate the South America market.

“This investment marks a major milestone for Taiger following 2.5x year-on-year revenue growth. We expect to see this momentum continuing for the next few years. We recently expanded into the legal sector, where we see tremendous opportunity, and we expect to close a number of new international clients later this year, further strengthening our global reach,” said Sinuhé Arroyo, the company’s founder and CEO, in a statement.

PacificBridge is a Korean-American joint venture between Tyrus Holdings and Brooklands Capital Strategies, a fundraising advisory group. One of the co-founders is Dan Carroll, who helped establish Newbridge Capital, an Asia-focused collaboration between TPG and Blum Capital that was ultimately absorbed by TPG. PacificBridge specializes in private markets, fund-of-hedge-funds and credit investments.

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• Topics
• Southeast Asia
• Early-stage
• Technology
• Singapore
• artificial intelligence
• TPG Capital