Qiscus, an Indonesia-based technology company providing an omnichannel
customer engagement platform, has secured $2 million from Init6, an investment company founded by Achmad Zaky, who is also Co-Founder of Indonesian e-commerce giant, Bukalapak.
Qiscus said in a statement on Tuesday that this investment will be strategically used to strengthen Qiscus’ expansion into the Southeast Asian market in upcoming 2024.
According to the statement, this investment by Init6 marks the first funding since Qiscus announced its success in achieving profitability in 2019 and it has continued to remain profitable to this day.
Qiscus said the firm has committed to utilizing the investment to optimize the company’s performance, including to support its expansion initiatives to strengthen its position in Southeast Asia, as well as strengthening market share.
“We are delighted to announce the acquisition of this new funding, strategically allocated to accelerate our market
expansion into Southeast Asia, leveraging our presence in over ten countries,
“As the initial step into this expansion, we are committed to doubling our revenue by 2024 with a focus on sustainable growth,” said Delta Purna Widyangga, Co-Founder and Chief Executive Officer of Qiscus.
To remain relevant with its customers for the long-term, he said the firm continues to innovate and develop various new solutions every year,
For instance, he said the firm has launched several new solutions, such as Qiscus AI Assistant, Qiscus Customer Satisfaction Survey, Qiscus Shop, and Qiscus Customer Data Platform (CDP) last August.
“With these innovative solutions, businesses can confidently depend on Qiscus as the only toolbox to meet their customer engagement needs,” he added.
Achmad Zaky, Founding Partner of Init6, said that the firm chose to invest in Qiscus because of its belief in its tremendous potential in Southeast Asia.
“They have shown excellent performance, especially during the Covid-19 pandemic, as they managed to increase their revenue by up to 3 times during that period,” he said.
He also expressed his confidence that this partnership holds the potential for remarkable outcomes, leveraging his wealth of experience and commitment to long-term sustainability, while also taking into account Qiscus’ impressive performance in recent years.
“We believe that Qiscus has the potential to strengthen the startup ecosystem and technology industry with its robust strategies and innovations,
“After reviewing its performance in recent years, we are confident that Qiscus has the ability to achieve its market expansion target in Southeast Asia in the upcoming year and will continue to achieve profitability and sustainability in the long run,” he added.
It is noted that a pivotal factor in the selection of Init6 as an investment partner lies in the company’s background.
Init6 was established by startup founders who already
possess invaluable experience in navigating the challenges of the startup landscape. Their insights and expertise align seamlessly with Qiscus’ mission of fostering significant, long-term company growth.
Founded in 2016, Qiscus is an omnichannel customer engagement platform that assists businesses in meeting the new expectations of customer experience (CX).
It enables real-time, scalable conversations integrated with artificial intelligence (AI).
To date, the firm has provided its services to more than 2000 companies, encompassing both enterprises as well as small- and medium-sized companies, and has served more than 100 million end-users.
Companies in Indonesia who have adopted Qiscus’ solutions, including Telkom Indonesia, Kino, Sompo, Dompet Dhuafa , and Halodoc.
As of mid-2023, Qiscus has demonstrated substantial revenue growth since 2019 and has a profit that continues to grow every year.
As a pioneering B2B SaaS company in Indonesia, Qiscus is also committed to conducting its business with a strong emphasis on long-term sustainability, innovation, and enduring growth.
In the midst of the rapid digitalization trend in Indonesia, the firm maintains its confidence in its capacity to consistently innovate and deliver solutions that remain relevant for clients and end-users in the long run.
(Source: TechNode Global)