Thailand-based omnichannel marketing platform Primo World Company Limited (PRIMO) said Friday it has received Pre-Series A funding from Fuchsia Venture Capital Company Limited (Fuchsia VC) and Beacon Venture Capital Company Limited (Beacon VC).

SOSV, the world’s top-five venture capital (VC), and Infinity Technologies VC, who contributed to the Pre-Seed round, also took part in this round of funding, PRIMO said in a statement.

It said that the funding will drive three key activities including increasing its capability of the omnichannel marketing platform, capacity of its artificial intelligence, and engagement modes to support more ways in which customers may participate with a brand.

The company also plans to expand its personnel in both Bangkok and Phuket to accommodate a larger client base in all departments, particularly business development, product development, software development, engineering, and customer support.

The funding will also be used to drive the activity of testing new products and business ventures to prepare PRIMO omnichannel marketing platform as a customer-data infrastructure of choice for all companies in Thailand, while raising awareness of how to collect and leverage customer data systematically for the purpose of building the best customer experience.

“Omnichannel marketing platforms have grown remarkably well despite COVID-19. There is still much more room for growth, as all large enterprises seek omnichannel marketing tools that facilitate consolidating customer data from the whole spectrum of channels. Processing them serves as a basis from which to devise seamless experiences for segment-based engagement,” said Vee Sirasoontorn, Co-Founder and Chief Executive Officer of PRIMO.

“PRIMO omnichannel marketing platform is now more capable and flexible, and takes little time to set up. Marketers could quickly avail themselves of easy and efficient tools to transition into the data-driven age, building a kind of customer engagement that truly
meets their objectives and targets the right groups,” he added.

According to the statement, PRIMO has also kicked off a sweeping development plan for all products across the board, namely its platforms for customer relationship management, customer data, and partnership management.

As a result of the business expansion, it said PRIMO is becoming more robust than ever as a solution for seamlessly bridging the junction between a brand and its consumers, and ultimately as an infrastructure by which large enterprises power their business through the data-driven age.

“Business in the present and future digital era is and will be driven by data. Those who have the capability to convert customer data into customer insights are those with a competitive advantage. We believe that PRIMO has exactly the tool for this purpose. It assists businesses by providing systematic data collection, data analytics, and ability to translate insights into actionable marketing and customer relationship management (CRM) implementation,” said Nadia Suttikulpanich, Head of Fuchsia VC.

She said she strongly believe that PRIMO has the potential to grow and play a significant role in helping Thai businesses adapt to the digital era.

According to the statment, PRIMO is growing in leaps and bounds, raking in revenue with twofold growth year on year on average over the past three years.

It said its number of personnel has risen from 18 in 2019 to 108 in 2021, and its omnichannel marketing platform has already served three sectors: retail, fast-moving consumer goods (FMCG), and finance—banks and insurance companies alike.

Its strength is widely accepted, and flexibility demonstrated in practice as it grows in line with client requirements. It also provides its clientele with expert and upfront consultancy, proven to satisfy diverse business needs of large enterprises.

“Beacon VC, a venture capital arm of Kasikornbank, is pleased to be a part of this Pre- Series A funding for PRIMO, a Thai start-up with the technology and expertise to manage customer data—the heart of business operations in the modern world”, said Thanapong Na Ranong, Managing Director of Beacon VC.

“We believe that with PRIMO, Thai entrepreneurs are going to get better at analyzing data and offering products and services that accurately address their customers’ needs. Kasikornbank itself will be putting PRIMO to use to gain a deeper understanding of its customers and to develop a more precise strategy for targeting them,” he added.

According to the statement PRIMO plans to expand abroad, serving current clients whose business spans Southeast Asia while penetrating new clients in the region.

It said its networking and outreach efforts, along with the tight-knit network of current investors — Fuchsia VC and Beacon VC — open the door to tapping a client base beyond Thailand in the future.

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