Digital marketing technology start-up Sinorbis announced a Series A investment of $4 million led by Jelix Ventures. Other investors include Executive Channel Holdings who led the previous round of early stage funding in April 2017.
The funding will be used to scale the growth of the digital marketing platform, Sinorbis, which was launched to market in July 2017.
The software is designed to make it easier for Australian and international businesses to market their products to Chinese online consumers whose 800 million internet users make up more than a quarter of the world’s online population.
What has Sinorbis been up to lately?
“In our first year of launching the platform we were focused on proving that we were able to solve a major problem through technology” said Sinorbis CEO and co-founder, Nicolas Chu. “Now that we have shown that there’s product-market-fit, we are looking to accelerate our growth in Australia before expanding into other markets.”
“Before the launch of Sinorbis, gaining access to China’s fast-growing online market has been fraught with challenges for international businesses due to China’s unique digital ecosystem and the cost of doing so was prohibitive for the majority of SMEs,” added Nicolas Chu. “Our technology levels the playing field for Western businesses looking to capitalise on China’s booming digital market, worth over $1 trillion in online sales alone.”
Sinorbis has gained significant traction since first commercialising the platform and has signed a diverse client portfolio, ranging from sole traders all the way to ASX Top 15 organisations with 30% of clients coming from overseas.
“Our biggest demand comes from the consumer goods and education sectors,” explained Nicolas Chu. “To date 25% of Australian universities have subscribed to our platform to support their Chinese international student recruitment efforts.”
Why has Sinorbis attracted this funding?
This year, the software has also won multiple awards, including the Australian Business Awards for New Product Innovation. The company also ranked in the top 20 in this year’s Anthill Smart 100.
“We were very impressed with what the Sinorbis team has been able to achieve in a little over a year since its launch,” said Jelix Venture CEO and founder, Andrea Gardiner. “We’re investing in a promising Australian start-up with great early commercial results and a notable client portfolio.”
“We have been able to follow Sinorbis’ growth since our first investment and have seen firsthand the excellent solution the team has built to reduce the cost, risk and barriers to entry for businesses looking to capitalise on the growing Chinese demand,” added Executive Channel Holdings CEO, Charles Parry-Okeden. “We are pleased to have been given the opportunity to join another funding round that will help the business accelerate the next phase of growth.”
Sinorbis has previously raised $3.9 million in two rounds of early stage funding.