Adtech Startup Scibids Opens APAC Headquarters in Singapore
Rahul Vasudev, former Mediamath APAC Managing Director heads the APAC office
Adtech startup Scibids has opened its Asia Pacific headquarters in Singapore, its first international office. This follows the Company’s successful SGD 3.3 million (€2.2 million) Series A funding last September. Rahul Vasudev, former Managing Director of MediaMath (Asia Pacific) and the APAC Head of Digital at MediaCom, will head Scibid’s APAC expansion.
Based in Paris, Scibids has developed a unique AI-based intelligence layer, which acts as a virtual trader on top of demand-side platforms (DSPs) such as Google’s DV360, The Trade Desk, MediaMath and AppNexus. It sorts through as many as 22 million variables such as geography, gender, site placements and third party data to automatically build thousands of highly granular buying strategies in the DSP. With these epiphanies at hand, media agencies and marketers who have in-housed programmatic buying can improve their return on ad spend by targeting the right contexts more accurately and optimise towards their own custom business metrics.
“Scibids in a way, is helping take digital media buying to new levels of effectiveness through the application of machine learning into the media decisioning process. At the moment, we are delivering a step change in media effectiveness to marketers and their agencies. Across categories, our clients are seeing 40 to 70 percent KPI improvement. This includes performance marketers within the travel and ecommerce sectors, brand marketers from sectors such as FMCG and those in between like automotive, insurance and so on,” said Scibids founder Julien Hirth.
Scibids’ Singapore presence is its first international office and mirrors its global expansion strategy – over 50 percent of Scibids’ revenue is already from overseas, ranging from Tokyo, Singapore and Sydney in APAC to New York and San Francisco in the United States.
“Asia Pacific is an important market. It is expected to be a major growth region, contributing 35 percent of global ad spend this year. Digital advertising share is also forecasts to constitute 49 percent of total ad spend in the region. The APAC HQ in Singapore will help brands and media buyers in the region get the most of their advertising platforms and solutions, creating an ecosystem that in turn creates growth.” said Mr Vasudev.
“The role Scibids is increasingly playing, is that of an intelligence layer that enables marketers, agencies and their DSP partners to work in harmony. For example, some of our clients who use third party data sources or intelligent attribution models are able to bring the data and learning back into the media optimisation process” added co-founder Mr Lemonnier.