ClickTRUE, a startup based in Singapore focusing on helping brand owners with online strategy such as design, experience, search, and conversion, has just raised series A funding from Nusantara Ventures. The startup recently expanded into Indonesia, setting up its clickTRUE Indonesia subsidiary. The locally-sourced funding will differentiate the digital agency from its rivals, said CEO Jackie Lee today.
It is an obvious move for a Singapore startup to expand to neighboring Indonesia. Indonesia has most of the wishlist ticked for any internet company - moreover a digital agency - in that it has a young and social population, internet usage is increasing, and digital ad spending will reach US$10 billion this year. It explains why Google has presence here now too.
With this investment, Shinta W. Dhanuwardoyo, founder of Bubu.com and managing partner of Nusantara Ventures, will sit on the board of directors of clickTRUE Indonesia. With years of experience in the digital industry, this will only aid the expansion of clickTRUE. Shinta said in an announcement this morning:
There is so much potential for growth in Indonesia. clickTRUE has the expertise and tools to help businesses in Indonesia click their way to success. With the evolving internet landscape, it’s still very exciting for me to be a part of this even though I’ve been doing this for years. This is exactly what we need for Indonesia to move forward in terms of performance marketing in the digital space
With the rise of internet literacy, usage, and spending, Indonesia’s definitely a place to expand. We have seen JWT expanding through acquisition, and I believe these moves are just the start of the capital inflows. At the same time, this also marks the first series A investment by a local venture capital group in Indonesia, and I definitely hope to see more local startups get investment from them too.