Squadzip seed fund marks first Plug and Play investment in Philippines
Silicon Valley-based global accelerator Plug and Play Tech Center has made its first investment in the Philippines by funding an undisclosed seed round into Manila-based SaaS company Squadzip.
The funding was made in partnership with Manila’s Kickstart Ventures, a wholly owned subsidiary VC firm of the major Philippine telco Globe Telecommunication.
“Squadzip is the first investment of Plug and Play in the Philippines so we are excited to work with Roman and his team and we hope to accelerate Squadzip’s potential globalization, possibly to become the next Salesforce or Sugar,” said Plug and Play Co-founder and Vice President Jojo Flores in an official statement.
Squadzip says the funding will be used for technical improvements as well as scaling its domestic and international distribution.
Founded in July 2014, the startup has built a mobile-first SaaS platform targeting frontline employees (sales, customer service etc.) and helping back-end managers easily organise and analyse customer data management.
“For our enterprise customers, Squadzip is like their own private company social media platform and wiki,” said Roman Mercado, Squadzip CEO and Co-founder in an official statement.
Mobility is the key attribute of the Squadzip product and Mercado explained employee activities are posted on a live feed with time- and location-stamps so business intelligence can be captured, classified and organized using Intel Pages.
“Also, sales teams involved in specific deals can collaborate and access data from anywhere in the world,” he added.
Plug and Play operates all over the world and other Asian partnerships besides the Philippines exist in China, Hong Kong Singapore and South Korea. The partnership between Plug and Play and Kickstart Ventures was formed in May 2013.
In October 2015 Kickstart invested an undisclosed amount in MedTech startup Lifetrack Medical Systems.
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