SingleInterface, which provides hyperlocal marketing-to-commerce software for storefronts, Thursday said it has raised $30 million (around Rs 250 crore) in its first ever external fundraising round.
Asia Partners, a Singapore-headquartered growth equity investment firm focused on investments in high growth technology and technology-enabled companies, led the funding round. PayPal Ventures, the global corporate venture arm of PayPal, also participated in the funding mop-up.
SingleInterface plans to use the capital to further consolidate position in its category in Asia, to extend its reach worldwide, and to continue deepening its portfolio of hyperlocal marketing, engagement, and commerce products, particularly around advanced audience segmentation and personalized re-engagement, the company said in a release.
Founded by Tarun Sobhani and Harish Bahl, the founder of Smile Group, SingleInterface is a SaaS platform in Asia that offers an integrated product suite for digital marketing, customer engagement and e-commerce for multi-location enterprise brands.
“Our suite of products has proven to deliver remarkable revenue growth for our clients, accounting in some cases for 15-20% of their revenues,” said Sobhani, chief executive officer of SingleInterface.
“We will invest in building our portfolio of AI-driven marketing and commerce enabling products…to drive further growth, enhance the customer experience, and provide rich business insights and context across their different locations, enabling them to grow and win locally,” Sobhani added.
SingleInterface is a part of The Smile Group, an Asia-based internet business incubator, partnership, and investment firm.
“With this funding, we are poised to tap into new markets and further solidify our position as a global leader in enabling marketing and commerce capabilities for multi-location enterprise brands through our product suite,” said Bahl, also the chairman of SingleInterface.