Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Thursday, August 11 2022 - 22:04
AsiaNet
Taiwanese martech startup Wavenet raised series B round, aims to launch IPO within 2 years
TAIPEI, Aug. 11, 2022 /PRNewswire-AsiaNet/ --

Wavenet, which specializes in marketing technology, recently raised nearly 
USD$3 million in the series B round. "Our future goal is clear: We'll have our 
IPO within 2 years and Taiwan will be our first choice for IPO venue," said Tim 
Hsu, the founder and CEO of Wavenet.

Wavenet's biggest investor in this round is Cornerstone Asset Holdings, a 
Silicon Valley fund focusing on SaaS and education.

The amount of the funding is not large, but Tim Hsu mentioned that the 
investor's assistance in exploring the North American market is what matters.

With the funding and investors' help, Wavenet will expand its operations to 
Japan and North America, and is planning to hire more international talents to 
join the team. They expect to double the data analysis team.

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.

"Wavenet aims to become the MediaTek in the field of MarTech, and an 
indispensable key component for our customers." Tim said, "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."

It is learned that Wavenet's annual revenue is around USD$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.

Source: Wavenet Technology

Image Attachments Links:

   Link: http://asianetnews.net/view-attachment?attach-id=427114

   Caption: The Founder and CEO of Wavenet Technology, Tim Hsu.

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