The funding round was led by Singapore-based investment firm Asia Partners, with participation from PayPal’s venture capital arm. The funding will be utilized to expand the startup’s global reach, shore up its product portfolio, and establish an AI product portfolio. SingleInterface, established in 2014, is a full-stack platform that provides digital marketing, customer engagement, and ecommerce solutions for multi-location firms.
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Martech platform SingleInterface raised $30 million in a “financing” round led by Singapore-based investment firm Asia Partners. PayPal Ventures, the venture capital arm of PayPal, also participated in the round.
This is the first external round raised by the online firm Smile Group’s incubated startup since its launch in 2014. The funds will be used to expand the startup’s global footprint and increase its product portfolio. Part of the funding will also be used to expand the company’s line of AI-powered goods.
SingleInterface is a full-stack SaaS platform that provides digital marketing, customer engagement, and ecommerce solutions to multi-location organizations. It was founded in 2014 by serial entrepreneurs Tarun Sobhani and Harish Bahl.
“We are ready to expand into new markets and strengthen our position as a global leader in enabling marketing and commerce capabilities for multi-location enterprise brands with our product suite thanks to this funding,” stated Bahl, a cofounder and chairman of SingleInterface who is also a cofounder of Smile Group.
Asia Partners cofounder Oliver Rippel commented on the funding, saying, “We are thrilled to be partnering with Tarun, Harish, and the SingleInterface team to support their growth ambitions in India and globally.”
The hyperlocal martech firm claims to improve brand discovery, increase customer engagement, and provide seamless omnichannel experiences to its clients. It claims to serve over 400 multi-location companies across industries such as food and beverage, retail, automotive, and banking, among others.
It presently operates in Asia and the Middle East, and its customers include TVS, CEAT, Audi, Samsung, Sharekhan, IDFC First Bank, and Puma.
“Our suite of products has proven to provide significant revenue growth for our clients, accounting for 15-20% of their total revenue… “We are on a mission to empower our customers to drive additional growth, improve the customer experience, and provide rich business insights and context across their various locations, allowing them to grow and win locally,” said SingleInterface cofounder and CEO Sobhani.
The development occurs at a time when investment for the corporate technology sector has increased. The space had 28 agreements worth $305 million in the first quarter (Q1) of 2024, making it the third-most funded industry during the period.
