Google Ads’ Singapore rival bags $600k from Choco Up
Choco Up, a revenue-based financing platform, said it invested US$600,000 in adtech startup ReverseAds.
ReverseAds is a keyword-advertising platform built to compete against Google Ads and to follow General Data Protection Regulation, Canada’s Anti-Spam Law, and California Consumer Privacy Act guidelines. Its platform identifies keywords based on users’ past searches, clicks, and purchases, and uses this data to help companies provide more relevant ads.
The company said it had logged a 700% growth in revenue within 17 months, having 50 global partners and 140 active clients. Based in Singapore, ReverseAds has staff across 27 countries, with offices in Phuket, Bangkok, Canada, and the US.
ReverseAds said the funding comes as third-party cookies start to get phased out due to high demand for consumer privacy. ReverseAds said it aims to address this demand and tap into the US$350 billion digital advertising industry.
ReverseAds was founded in 2018 by Michael Hahn, who also serves as its CEO. It will use the capital to speed up growth in the Asia Pacific, Europe, and the US. This includes the establishment of its first office in Australia, ramping up research and development, and making new hires.