JAKARTA, 28 August 2020 – E-Commerce enabler company SIRCLO recently announced the closure of their USD 6 million Series-B funding. Participating investors in this funding round are East Ventures, OCBC NISP Ventura, Skystar Capital, Sinar Mas Land, and others.
“We are very grateful to the investors who have participated in our Series-B funding. We allocate this injection of funds to help strengthen our internal infrastructure and to keep serving the growing number of businesses that are entering e-commerce, including clients who have trusted our services,” said Brian Marshal, CEO and Founder of SIRCLO.
On top of opening a new fulfillment center, SIRCLO also strives to continuously improve the services and features provided by SIRCLO Store. Through this improvement, SIRCLO Store can now provide an integrated platform to access all digital platforms offered by SIRCLO on various sales channels, such as ‘brand.com’, marketplace, and chat commerce.
Brian asserts that the Series-B funding took place at the right moment, exactly when SIRCLO as an e-commerce enabler company is in a strategic business sector to achieve faster growth. Amidst the Covid-19 pandemic, the Ministry of Information noted that online shopping transactions have increased by up to 400%. The crisis also accelerates ecommerce penetration growth. SIRCLO Insights’ 2020 e-commerce report projected 12 million new ecommerce users only in the few months where strict social distancing measures were implemented.
Brands that have been relying on traditional sales channels are now prompted to enter online platforms to keep serving their customers well. Hence, as a specialist company in facilitating online sales channels for brands, SIRCLO becomes the sought-after solution and could record outstanding business performance during the pandemic.
“SIRCLO is positioned well in this pandemic – its services are ready at the right time and the right place. With its capabilities built prior to the outbreak of the pandemic, SIRCLO is aiding the acceleration of the digital transformation that is taking place in Indonesia. The e-commerce adoption time has been compressed – meaning that it has advanced the initial 2-year trajectory,” explained Willson Cuaca, Co-founder and Managing Partner at East Ventures.
SIRCLO embodies a bridge between retail brands and consumers through SIRCLO Commerce services. This business line facilitates the entire online sales process, from stock management, ordering, product delivery, to customer service. That way, brands can rely on SIRCLO to be their complete solution when they want to sell online, either through the marketplace, chat commerce such as Whatsapp Business, or their own website. During the pandemic, SIRCLO also continues to operate their fulfillment center facilities as usual to ensure that all products can be well-distributed.
“Our investment in SIRCLO aims to support their mission in helping Indonesian business owners enter the digital market and support the development of e-commerce as a whole. Businesses of all sizes often lack the expertise required to transition from offline to online. By collaborating with SIRCLO, businesses are guaranteed the support they need to create their own website, manage multiple ecommerce marketplaces, and even handle warehousing/logistics to end customers, while they can focus on further enhancing their brand image. OCBC NISP Ventura believes this is the push that brands need to successfully tap into the e-commerce scene and thus driving the overall growth of e-commerce in Indonesia,” said Darryl Ratulangi, Managing Director of OCBC NISP Ventura.
“As the leading e-commerce enabler in Indonesia, SIRCLO strives to keep providing the best services and solutions for brands to develop online businesses. Through this funding, we continue to improve our capabilities and network to serve more brands in Indonesia. We are also optimistic that online shopping transactions will continue to increase in the future, even after the pandemic ends,” said Brian Marshal.
SIRCLO’s Social Initiative and Latest Merge
Local brands and businesses can be a driving force for Indonesia’s economy in the coming months. SIRCLO has supported East Ventures, one of their early investors who also participated in this Series-B funding, to produce the “Indonesia Pasti Bisa Jaga APD” initiative. This initiative aims to assist the distribution of Personal Protection Equipment (PPE) evenly throughout Indonesia, and to avoid shortages of PPE for medical personnel on duty. To achieve that end, East Ventures has also collaborated with local MSMEs to produce the PPE to be distributed.
In May 2020, SIRCLO officially merged with an agency that provides e-commerce technology and solutions, ICUBE. This merger action allows SIRCLO and ICUBE to combine thousands of their clients, while bringing together the strengths of both parties to help more businesses and brands carry out an effective and efficient digital transformation.
Following the merger, Muliadi Jeo, Founder & President of ICUBE assumed the position of Chief Technology Officer (CTO) at SIRCLO. Leontius Adhika Pradhana as former CTO has taken over the role of Chief Product Officer (CPO). Additionally, in June 2020 SIRCLO also welcomed the new Chief Operations Officer (COO), Danang Cahyono. Previously the Managing Director at Westcon-Comstor Indonesia, Danang has accumulated over 20 years of working experience in various Fortune 500 companies within the retail sector.
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Established in 2013, SIRCLO is the leading e-commerce solutions in Indonesia that help brands sell online. SIRCLO offers four business solutions, namely SIRCLO Store, SIRCLO Connexi, SIRCLO Chat, and SIRCLO Commerce. SIRCLO Store is a SaaS (Software as a Service) platform for creating template-based online shop websites for small to medium-sized local businesses. SIRCLO Connexi offers an interactive dashboard to manage sales from various Indonesian e-commerce platforms. In addition, SIRCLO Chat presents a conversational commerce platform in the form of an interactive dashboard that is integrated with the WhatsApp Business API. Through end-to-end channel management solutions, SIRCLO Commerce answers the needs of corporate brands entering online sales channels.
In May 2020, SIRCLO officially merged with ICUBE, the premier Magento Solutions Partner in Indonesia, to bring in e-commerce technology development solutions and Swift, an omnichannel ecommerce builder. SIRCLO Store has built more than 100,000 websites and helped 3,000 brands develop their businesses online, such as ATS The Label, Benscrub, Evete Naturals, Namaste Organic, This Is April and Heytimmy Kidswear. SIRCLO has also been trusted by dozens of clients consisting of 200+ well-known brands such as Unilever, Reckitt Benckiser, KAO, L’Oréal, Eiger, and Levi’s. Based at Green Office Park 1, The Breeze (BSD – Tangerang), today SIRCLO has 500 employees and representatives based in Bandung, Yogyakarta, and Surabaya. See more information about SIRCLO at www.sirclo.com.
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