Analytics Firm Adjust Says Tech Advancement Reason for Expansion in SEA
Mobile application analytics company Adjust, last week said it would invest heavily into expanding in Southeast Asia, following its latest funding round where the Berlin-based company raised $227 million from investors including Morgan Stanley, Eurazeo Growth, and Sofina, among others.
Adjust primarily provides data on consumer engagement with an app, reports in-app bugs, and helps apps optimise their marketing campaigns, and the company said it was looking to grow in Singapore, Indonesia, Vietnam, and, eventually, the rest of Southeast Asia.
"Southeast Asian users didn't follow the typical pattern of going from PC, to laptop, to mobile, but jumped straight to smartphones instead. Adoption rates have risen fast, too," co-founder and chief executive officer Christian Henschel told Entrepreneur in an interview, citing data from research firm Statista, which said smartphone penetration rate in Indonesia, for example, currently stands at around 47.6 percent, up from 24 percent in 2013.
"The majority of Southeast Asia has seen a similarly meteoric rise in mobile: our latest mobile growth map report found that Vietnam, Thailand and Myanmar were three of the fastest-growing app markets. That means huge opportunities for app marketers across the region. To make the most of these opportunities, brands need the right data to fuel their marketing strategies, and Adjust can offer the most accurate and granular data possible," Henschel added.
Clients in the region are also concerned about advertising fraud, especially in a region that has been undergoing rapid growth and where user acquisiton costs are low, the company said.
In 2018, Adjust rejected over 10 million fraudulent app installs across Southeast Asia, saving clients over $30 million.
The company says its overarching goal is to "make marketing simpler, smarter and more secure for clients, empowering data-driven marketers to build the most successful apps in the world."
One of the things that gives Adjust a big competitive advantage is its support team, the company says. "In our headquarters in Berlin, and in our offices across the world, we provide high-quality, quick-turnaround support in every time zone and 11 languages. Clients often tell us the quality and speed of response from our support team is a huge asset," says Henschel.
Rakuten, Traveloka, Netzme, LINE, and Tencent Games are some of the high-profile companies Adjust counts as clients in Asia, and its optimism in Southeast Asia is fuelled by growth in successful, homegrown companies.
"It’s great to see so many homegrown brands and startups succeeding both in their home country and internationally. Coupled with our latest round of funding, it felt like the perfect time to ramp up our operations and invest in our team on the ground. It’s a very exciting time to be here," Henschel said.