SIRCLO Gets Series B Funding Worth 88 Billion Rupiah

SIRCLO, platform developer startup e-commerce enablers, today (28/8) announced the acquisition of series B funding of $6 million or equivalent to 88 billion Rupiah. Investors involved in this round include East Ventures, OCBC NISP Ventura, Skystar Capital, Sinar Mas Land, and several other names not mentioned.

SIRCLO Founder & CEO Brian Marshal said the additional capital funds would be focused on strengthening internal infrastructure. "Through this funding, we continue to increase our capabilities and reach, so we can help more people brand in Indonesia. We are also optimistic that shopping transactions online will continue to increase in the future, even after the pandemic is over."

Business expansion continues in the midst of market developments E-commerce. Keep on SIRCLO add fulfillment center new and improved features of the SIRCLO Store (including the platform brand activation, marketplace, and chat commerce).

"SIRCLO is at the right time and position in this pandemic period. With capabilities that have been built before the pandemic, SIRCLO helps accelerate the digital transformation that is happening in this country," explained Willson Cuaca, Co-founder and Managing Partner at East Ventures.

Brands that have been relying on traditional sales channels are also encouraged to enter the platform online in order to better reach consumers. Report E-commerceSIRCLO Insights 2020 estimates there are 12 million users E-commerce only since the pandemic started, 40% of them said they would continue to rely on E-commerce even after the pandemic is over.

Competition in this business segment is actually quite busy. Besides SIRCLO, there are already several other platforms that are maneuvering in Indonesia. Call it local players such as Jubelio, Jet Commerce, and IDMarco; or some regional players like aCommerce, Perpule, Anchanto, and others. Value proposition clearly needed, by providing added value that can help merchant partners improve their business.

Business initiatives

Apart from its main products, SIRCLO also continues to improve its services. At the end of last year they launch Connexi, SaaS platform with management features multi-channel e-commerce. SIRCLO claims Connexi has been widely used by brand FMCG to manage sales online at SIRCLO Commerce.

While their main service is SIRCLO Commerce, a platform that facilitates the entire sales process online: starting from stock management, ordering process, product delivery, to customer service. Brands can manage online sales through marketplace, chat commerce such as Whatsapp Business, or the website itself.

In May 2020, SIRCLO announce to merge with technology supply agencies and e-commerce solutions Icube. The company's actions helped bring together thousands of their clients, while bringing together the strengths of both parties to help more businesses and brand perform digital transformation.

Post-merger Founder & President Icube Muliadi Jeo assumed the position of CTO of SIRCLO. Leontius Adhika Pradhana as CTO previously changed his position to CPO. In addition, last June the company also welcomed the appointment of new COO Danang Cahyono. Danang was previously Managing Director at Westcon-Comstor Indonesia.