Bangkok-based aCommerce has raised US$10 million from existing investors KKR’s Emerald Media, investment house Blue Sky, and DKSH Holding AG.
WHO: Headquartered in Thailand, aCommerce is the largest brand e-commerce enabler in Southeast Asia, delivering localized online retail, distribution, and marketing solutions for global brand clients such as Samsung, Unilever, Nestlé, L’Oréal, Philips, Adidas, Mars, and many more. Founded in June 2013, aCommerce provides end-to-end e-commerce technologies and solutions including performance marketing, channel management, webstore design and operations, content production, order fulfillment and warehousing, delivery and logistics, and localized customer care.
WHY: The funds will be used to enhance the company’s demand generation solutions, optimize logistics operations, and balance its resources to increase efficiency across the business to better support enterprise brand clients.
IN THEIR OWN WORDS: “We have the ambitions for an IPO so it’s really important that we grow a healthy, valuable business,” said CEO Paul Srivorakul, adding that the company may choose to list in Bangkok, Singapore, or Australia to stay close to the Southeast Asian market.
- aCommerce has raised US$10 million from existing investors KKR’s Emerald Media, investment house Blue Sky, and DKSH Holding AG; Indonesian conglomerate Sinar Mas also took part in the funding round.
- The firm plans to raise another US$5 million by the end of this year as part of an extended series B or early-stage funding round.
- The business is growing at a Compound Annual Growth Rate (CAGR) of 188% over the last 2 years to exceed US$90 million for the calendar year 2018. The business will generate well north of US$100 million in revenue this year with the most mature market, Thailand, already profitable on a standalone basis.
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