Insider, yesterday announced the launch of its Growth Management Platform (GMP), which has raised a USD 11 million Series B funding round backed up by Sequoia India, a venture capital firm specializing in investments.
Sequoia India, has already partnered with some of the fastest-growing startups across India and Southeast Asia, including Tokopedia, Go Jek, Carousell, Byju's and Zomato.
Insider Growth Management Platform (GMP) helps digital marketers drive growth across the funnel, from Acquisition to Activation, Retention, and Revenue. Leveraging real-time predictive segmentation powered by deep Artificial Intelligence and Machine Learning capabilities, GMP empowers marketers to deliver personalized journeys across the web, mobile web, mobile apps, and ad channels.
The company was established in 2012 as a platform to help optimize online marketing campaigns.
Pieter Kemps, Investment advisor at Sequoia India said, "We were impressed with Insider's AI platform, and the profound impact on their customer's key metrics: lower customer acquisition costs, higher retention, faster growth. These customers quickly started to use more and more products from the Insider platform. That has put Insider on a fast growth trajectory, especially in Asia."
Hande Cilingir, CEO and co-founder of Insider told that the new funds will go towards expanding Insider's sales team and hiring data scientists and machine learning engineers to develop the platform.
The startup is on track to hit USD 100 million in annual recurring revenue by the end of 2018 while it is bullish that there's more to come, he added.