StickEarn Announces Series A Funding Amount Of 77,6 Billion Rupiah

StickEarn, a startup known for in-vehicle advertising solutions, today (15/10) announced the closing of series A funding with a value of up to $ 5,5 million or the equivalent of 77,6 billion Rupiah. This investment round was led by East Ventures and SMDV, who participated in it Grab, Ovo, and Agaeti Ventures.

This fresh fund will be used by the company to explore new opportunities and services. Including improving data analysis capabilities to support the advertising business that is run. StickEarn offers a variety of options advertising platform such as StickMob (cars), StickMotor (motorcycles), StickBus (buses), StickAngkot (urban transportation), StickPlane (airplanes), and StickMart (in-car retail).

Since debut in 2017, it is currently more than 300 brand assisted with the advertising service StickEarn. Average income increased up to 300% from awareness resulting from. The company has also operated in 31 cities in Indonesia.

"We are committed to continuously developing high impact, accessible and intelligent advertising platforms for our clients. Through this funding round, we seek to recruit the best talent in the industry to improve our services to meet client needs, develop new products, and strengthen the partnership between the agency and StickEarn even more," said StickEarn Co-founder Archie Carlson.

Early last month the new StickEarn introduced StickTron, namely a service model advertising through a mobile LED screen affixed to a truck vehicle. Currently, it is still being tested in the Jakarta area. The target is that there will be 10 units of LED Trucks in early 2020.

"We will continue to develop various advertising services that can support campaigns in Indonesia multi-platform and integrated. This is to enable StickEarn clients to experience a more comprehensive advertising experience and to integrate offline marketing strategies into online. We will also provide more data-driven campaign reports, as well as technology updates, so that they can help clients make better decisions," continued StickEarn Co-founder Garry Limanata.

StickEarn earn initial funding in 2017 from East Ventures. In their journey, they also cooperate with various strategic partners, one of them Grab for initiative GrabAds.

"As StickEarn's first backer, East Ventures saw how the founders proved their ability to develop this new business model, both horizontally and vertically. In just two and a half years, their solutions continue to have a positive impact on both advertisers and brand. This investment is a testament to our belief that StickEarn will be able to fulfill its vision of revolutionizing the outdoor advertising (OOH) industry in Indonesia," said East Ventures Managing Partner. Willson Cuaca.

Besides StickEarn, in Indonesia there are also StiCar, Ub Advertising, Adroady, and several other players that provide similar services. Promogo also has advertising services on similar vehicles, now it's available acquired by Gojek.