Backed by Singapore’s National Research Foundation, Rainmaker’s investors consist of angel investors, corporate entities and early-stage VC firm IncuVest
The financial terms of the acquisition were not disclosed.
With this deal, KPMG aims to offer mobile-first solutions to its clients, which include the creation, development and deployment of digital platforms and applications in Southeast Asia. This will also enhance the auditor’s capabilities in mobile, cloud services, managed services and digital ledger (blockchain).
Ong Pang Thye, Managing Partner at KPMG in Singapore, said: “This acquisition primes us to scale our in-house digital capabilities and increase our bench strength in digital innovation, co-creation and solutions deployment, creating a powerhouse of end-to-end digital transformation services and enterprise solutions.”
Alex Leong, Co-founder of Rainmaker Labs, said: “Rainmaker Labs and KPMG share the same vision, have an established chemistry and a history of collaborating on digital projects with successful outcomes. This history has laid a solid foundation for an integration. By working alongside KPMG’s adjacent consulting pillars and its wide geographical footprint, we will continue to help clients embrace digital and mobile enablement as a key building block of their integrated business transformation.”
Founded in 2011, Rainmaker Labs develops mobile applications for businesses, companies and enterprises around the world. It is backed by the National Research Foundation (NRF), a department of the Prime Minister’s Office Singapore, under the Technology Incubation Scheme (TIS). Its investors consist of angel investors, corporate entities and IncuVest, an early-stage VC firm.
With operations and employees in Singapore and Vietnam, Rainmaker Labs claims to have served more than 100 clients in industries, including consumer and retail, financial services, logistics, healthcare, telecommunications, energy and education across Asia Pacific.
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