Taiwanese martech startup Wavenet raises $3m series B round to expand in Japan and North America
Taiwanese marketing technology (martech) startup Wavenet, announced the raise of $3 million in series B round, to expand its operations to Japan and North America, and hire more international talents to join the team. Wavenet expect to double the data analysis team. Wavenet's biggest investor in this round is Cornerstone Asset Holdings, a Silicon Valley fund focusing on SaaS and education.
Silicon valley's investor Cornerstone Asset Holdings said that in the post-pandemic era, both B2B marketing and B2C or C2C e-commerce will become more dependent on traffic platforms. Wavenet's growth from an Adtech (advertising technology) company to a Martech company as well as its comprehensive deployment of becoming an agency for tech giants could enable it to enter the North America market or any other market seamlessly.
With two marketing product, Wavenet help customers expand to the global market. Wavenet provides two major services. One is the advertising traffic service, which helps customers to buy ads on Facebook, Google, Twitter, etc. The other is SaaS service. Wavenet developed its own Orca system, which, in combination with the technologies from other MarTech companies, allows for remarketing, audience analysis, and public opinion monitoring by customers' members. Besides, it also provides OrcaPro system to allow for B2B clients to target global marketing activities.
In the field of advertising traffic, Wavenet has worked with domestic clients such as LG Household & Health Care and Yannick. And overseas, it has cooperated with companies like Hong Kong Gifts & premium Fair, and Au Huat Coffee (Malaysia). In terms of SaaS system, Wavenet's clients include Chunghwa Telecom.
Tim Hsu, Founder and CEO, Wavenet: "Our future goal is clear: We'll have our IPO within 2 years and Taiwan will be our first choice for IPO venue. Wavenet aims to become the MediaTek in the field of MarTech, and an indispensable key component for our customers. Scalability and concatenation capabilities are Wavenet's keys to creating MarTech products, and there are many players in the market possessing in-depth and delicate technologies, so our products have to be concatenated with theirs to allow our clients to choose the services they want. After all, customers want a hole in the wall instead of a drill in their hands."
Wavenet's annual revenue is around $20 million, in which the revenue ratio of SaaS to advertisement is about 1:2. But in the future, Wavenet will strive to increase the percentage of SaaS to close to that of advertisement. Regarding overseas deployment, Wavenet is one of the few companies that stand steadily in China market and has acquired the 22-year-old advertising company Singnan Communications in Malaysia. In addition, Wavenet is expanding its services to other countries, and is expected to establish a branch in Japan.