Feedloop Gets Pre-Series A Funding, Now A Codeless Application Development Platform

Developers of SaaS services for business digitization Feedloop are getting pre-series A funding for an undeclared amount. This round is led by Telkomsel Innovation Partners (TMI) with the involvement of Aksara Ventures and investors in the previous stage, namely East Ventures.

Funds will be focused on encouraging the development of technology products, recruiting more human resources, and building distribution networks.

Founded by Ahmad Rizqi Meydiarsi (CEO), Ronaldi Kurniawan Saphala (CTO), and Muhammad Aji Santika (CMO) since 2018; The services that Feedloop provides today are much different than in the early days. They first debuted with a platform that allows marketers to create interactive content such as surveys, quizzes, or digital stories to support online marketing.

Meanwhile, the existing SaaS has been expanded with two main products, namely Qore and AIXP. Qore itself is a no code development platform (NCDP), allows users to develop applications without code/programming for various purposes, such as HR management, warehouse management, consumer applications, and others.

Later AXIP was developed as a customer data and experience platforms (CDXP), enabling users to manage digital data from multiple channels to enhance their marketing capabilities. Including aimed at analyzing customer behavior real-time.

"Entering its third year, Feedloop will continue its commitment to digital enabler For Indonesian companies [..] Investment from TMI will help us to accelerate the realization of our great mission to create equitable digital transformation throughout Indonesia," said Rizqi.

Synergy agenda

Since debut in May 2019 brought funds initial management 576 billion Rupiah, TMI focuses on investing in various types of startups that can be synergized with the main business of the parent. Synergy is an important point that is underlined, as corporate venture capital (CVC), they carry an important mission to help companies achieve certain goals, in this case digital transformation.

The strategic partnership with Feedloop is no exception. with him, Telkomsel will jointly develop a data management platform and consumer experience. Various types of customer data will be formulated to be a more targeted marketing reference and product innovation. The purpose of developing this platform is also to help other SOEs (outside the group) Telkomsel) adopts digital transformation.

Feedloop is now TMI's 13th portfolio company. Previously they had invested in Kredivo, Inspigo, EVOS Esports, TaniHub, Qlue, Tada, PrivyID, Roambee, Halodoc, SiCepat, Score, and your school.

"In the future, TMI will be further developed to open up various opportunities for collaboration and wider startup empowerment. We have prepared many things to realize various strategic plans in the future," said TMI CEO Marlin R. Siahaan on an occasion media meeting (22/7).

Platform data and projections no code

Previously existed Typedream and Cotter, platforms no code developed founder from Indonesia. They managed to book seed funding from Y Combinator and a number of angel investors global. The service concept takes the form of bulider's website and passwordless login platforms, allowing users to build their websites without programming; and make access login secure without requiring a password.

The convenience offered makes the platform no code, or often also called low code, growing rapidly. In the global arena, currently there are many SaaS-based platforms that offer similar capabilities for various specific needs.

According to the findings of the survey Appinventive, service no code much in demand by business people because it makes it easier for them to innovate and transform. As is known, businesses are required to agilely carry out digital transformation by go-online. The manual development process can take a long time for companies just starting out, as they have to go through many stages, from planning to recruiting programming experts.

This potential brings the market value of these services to $45,5 billion by 2025. The existing platform variants not only facilitate the specific needs of large companies, but also for SMEs who want to increase their presence significantly online or minimize friction in its operational activities.