TADA, a customer retention platform startup, announced the series B1 funding. This investment round was led by MDI Ventures, with the participation of Telkomsel Mitra Inovasi (TMI) and the previous investors Finch Capital and Sovereign’s Capital.
In addition to upgrading the technology platform and infrastructure, TADA will use the funds to strengthen its position in Indonesia while expanding its strategy arund Southeast Asia. In addition, team building and partnerships will be intensified to support expansion.
Based on our records, TADA’s series B round was first announced in mid-2018, led by Finch Capital and supported by Sovereign’s Capital. In the previous round, TADA was supported by some investors, including RMK Ventures, SMDV, Venturra Capital, and Gunung Sewu Group.
TADA’s Founder & CEO, Antonius Taufan said, the participation of MDI Ventures and TMI is a strategic opportunity for the company, enabling it to reach markets from various businesses in the group. There will be various synergy collaboration opportunities to explore. “This investment will enable us to fulfill our mission of enhancing business sustainability by enabling them to better retain customers.”
MDI Ventures’ CEO, Donald Wihardja added, “We see opportunities for a synergistic partnership between TADA and Telkom Indonesia to bring more interesting and beneficial engagement and collaboration between various corporate clients in the Telkom ecosystem. This funding will be in line with MDI Ventures’ long-term goal to empower digital entrepreneurial growth.”
In a general note, TADA offers digital solutions for businesses to build relationships with customers (loyalty), helping to accelerate business growth and sustainability by maximizing customer lifetime value. The strategies applied is varied, from digital membership, subscriptions, referrals, and digital rewards platforms. To date, they claim to have 400 business clients spread across Indonesia, Malaysia and the Philippines.
In fact, there are still a few local startups engaged in the loyalty platform, apart from TADA, there are two other platforms that offer similar services with their respective approaches, GetPlus and Member.id. Earlier this year Member.id just announced series A funding obtained from East Ventures and Traveloka.
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Original article is in Indonesian, translated by Kristin Siagian
