Singapore-based marketing platform Insider has on Wednesday announced an investment of up to $105 million from existing investors, Qatar Investment Authority (QIA) — and Esas Private Equity.
With this latest investment, Insider’s total funding amount reaches $274 million.
The funds will be used exclusively to accelerate Insider’s merger and acquisition (M&A) strategy to build upon the company’s existing technology and capabilities, Insider said in a statement.
In light of economic headwinds, Insider plans to utilize the current market conditions to achieve unparalleled growth through an M&A-focused strategy.
Together with the company’s $121 million Series D raise from March 2022, these investments will supplement Insider’s significant growth reserves.
Insider has grown rapidly in every corner of the globe and now boasts 1,200+ customers, which include 1/3 of the Fortune Global 500 and some of the world’s brands, including Singapore Airlines, Estée Lauder, Samsung, Vodafone, Allianz, Virgin, Toyota, New Balance, IKEA, GAP, L’Oreal, Santander, BBVA, Pizza Hut, Newsweek, Nissan, AVIS, MAC, Marks & Spencer, Avon, and CNN.
Earlier in the year, Insider announced the acquisition of MindBehind, a Meta-verified, Conversational Commerce and Messaging Platform, to accelerate its development of conversational solutions.
Following the company’s first acquisition, Insider is now actively exploring further M&A opportunities in its mission to further enhance its product and roadmap to meet the evolving needs of marketing teams.
Insider’s mission is to help brands deliver unforgettable, individualized experiences that customers love, while helping marketing leaders simplify and consolidate the customer experience tech stack into a single powerful platform that delivers the fastest time to value (TTV) and lowest total cost of ownership (TCO).
Insider recently published its growth figures for the last 12 months, showing phenomenal growth in strategic regions, including the United Kingdom, Europe, and the Americas.
Despite broader economic headwinds, this strong growth trajectory demonstrates the global appetite for Insider’s solutions.
“At Insider, we have successfully achieved hyper-growth via organic means, until now. Now, we are looking to achieve unparalleled levels of growth with an M&A-focused strategy,” said Insider Chief Executive Officer and Co-Founder Hande Cilingir.
According to him, these funds will be used exclusively for the purpose of acquiring exceptional product companies, to further complement our technology and create product synergies.
“Unlike our $121 million Series D investment in 2022, which has bolstered our capital reserves for operational spending in the coming years, this latest round will specifically serve to fuel inorganic growth through M&A,” he added.
He also said the response from the market, and its customers, following Insider’s acquisition of MindBehind, earlier this year, has increased its appetite to explore further opportunities to acquire unique organizations with industry-first technologies to better serve our customers, drive more value, and source innovative solutions to marketers’ biggest frustrations and challenges.
Faraaz Khan, Insider’s Chief Strategy and Corporate Development Officer, who is focused on accelerating business growth through M&A and channel partnerships, said this latest news clearly demonstrates the continued trust that the firm’s investors see in Insider’s vision – and, most importantly, its growth and results.
“This latest investment will build upon our capital reserves, and be used to accelerate growth via M&A,
“My team and I are already in discussions with several companies, and we will continue to meet with interested parties and review new opportunities,” he said.
Ahmed Ali Al-Hammadi, Chief Investment Officer, Europe of QIA said, following QIA’s lead in Insider’s Series D round in 2022, the firm has been encouraged by Insider’s growth strategy and resilience.
“Led by our specialist technology, media, and telecoms (TMT) investment team, QIA looks to partner with companies at the forefront of innovation and development,
“As a female-led tech unicorn, Insider is proving to be a leader in the marketing tech ecosystem,” he said.
Pieter Kemps, Principal at Sequoia Capital said that the firm sees Insider’s ability to further expand its position as an emerging market leader in their space.
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