#Asia Snap this: PicMix gets US$3M Series A from Gobi Partners, undisclosed investor

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Integration with Gobi Partners portfolio companies, such as Camera360, is a likely possibility

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Indonesian content discovery and social commerce platform PicMix today announced that it has received a total of US$3 million Series A round, with the first close from Gobi Partners (US$1 million) and the second close from a to-be-disclosed strategic investor.

It plans to use the funding to enrich app features and user experience, enhance content discovery and social commerce capabilities, and expand into new markets in Southeast Asia.

The company will dedicate efforts to develop an intelligent machine learning engine to better understand users’ needs and habits through big data, helping the company to develop new features.

“[There are] three main things that we see from Gobi and we’re excited about it: Network, knowledge and integration among Gobi’s portfolio,” said PicMix CEO and Founder Calvin Kizana in an e-mail to e27.

“Synergies and integration among Gobi’s portfolio are the most valuable assets for PicMix …
Various portfolio from Gobi’s startups in content such as BaBe, Qraved will definitely integrate nicely with PicMix’s content discovery. Integration with Camera360 is [also] under discussion to enrich PicMix features,” he further explained.

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Founded in 2012, PicMix claimed to have been downloaded over 100 million times across all mobile platforms with more than 27 million registered users generating over 400 million pieces of user-generated content.

It has been chosen as digital campaign platform by over 60 local and international brands in Indonesia.

According to an official statement, apart from its home market Indonesia which gives the company 35 per cent of its users, PicMix also gained traction in emerging markets such as South Africa (22 per cent) and Nigeria (16 per cent).

The African continent is definitely in the company’s global expansion agenda, but Kizana is in no rush.

“Our focus is still in Indonesia while in parallel we also start engaging with local brands, agencies and distribution partner in South Africa to create activities and content in PicMix, exclusively for African User. This will help to maintain our user base in Africa and steadily growing it until the right time for expansion to Africa,” he explained.

For Indonesian startups looking to make it big in international market, Kizana has some advice to share.

“Global expansion is not an easy thing to do. Being a startup, you should be able to address issues such as understanding the market, product modifications, and aligning between company’s vision, product strategy, and roadmap before you are expanding globally. You should be patient as you navigate through global expansion,” he said.

“I personally encourage startups to grow the company and its product penetration big enough in its own market before planning to expand globally,” he closed.

The post Snap this: PicMix gets US$3M Series A from Gobi Partners, undisclosed investor appeared first on e27.

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