SIRCLO, a company providing e-commerce solutions that help brands sell online in Indonesia, announced today it has raised US$36 million in a new round of financing, led by local investment firms East Ventures (Growth Fund) and Saratoga.
Online travel giant Traveloka, real-estate major Sinar Mas Land and several unnamed investors also participated.
With the new funding, SIRCLO plans to develop its technology infrastructure and expand its services to accelerate retail digitalisation for various businesses all across Indonesia.
“With this new funding, we plan on building our momentum as consumer spending in e-commerce has picked up during the pandemic and beyond. We continue to help brands sell online using the omnichannel approach. Their success stories in extracting more value in our ecosystem propels our rapid growth even further as we continue to make significant upgrades to our solution offerings to future-proof the success of our clients,” said SIRCLO founder and CEO Brian Marshal.
Founded in 2013, SIRCLO helps businesses sell online. Its solutions are divided into two main categories — entrepreneur and enterprise solutions.
In the first category, it offers SIRCLO Store, an online store dashboard for SMEs to sell across website, marketplace, and chat commerce. It also offers IbuSibuk, a solution empowering communities of mothers as key opinion leaders, micro-influencers and resellers.
In the enterprise category, it offers e-commerce enabler services, a solution for omnichannel technology development, and a B2B2C platform selling mom and baby products. It also offers a parenting platform Orami, which it acquired in April.
Orami runs IbuSibuk, a digital economic empowerment programme for mothers, specifically for those passionate about entrepreneurship.
In August last year, SIRCLO announced a US$6 million Series B fundraising from a host of investors, including East Ventures, OCBC NISP Ventura, Skystar Capital, Sinar Mas Land.
Today, SIRCLO claims to have served more than 100,000 brands. The list includes local brands such as ATS The Label, Evete Naturals, Namaste Organic, This Is April and Heytimmy Kidswear. Its MNC clients include Unilever, Reckitt, KAO, L’Oréal, and Levi’s.
The e-commerce industry in Indonesia has grown considerably since the onset of the COVID-19 pandemic. Almost half of the country’s population uses digital technology for their daily needs, which shows significant growth potential.
Image Credit: SIRCLO
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