Real-time customer management platform RateIt has secured US$5 million in a series A round led by Tin Men Capital, a Singapore-based venture capital firm focused on business-to-business tech investments.
Tin Men Capital joins RateIt’s existing investors Wavemaker Partners, PropertyGuru co-founder Steve Melhuish, Koh Boon Hwee, and principals from firms such as Alto Partners and TPG.
RateIt said that the fresh funding will be used to rev up its go-to-market capabilities and expand its customer-facing and product development teams to further its footprint in Southeast Asia, while deepening its operations and marketing in Singapore.
Founded by Michael Momsen in Australia in 2016, the startup offers a new way to listen to customers while they are “in the moment.” Its platform combines microsurveys with real-time sentiment analysis tools to provide businesses with insights that would help them improve their customer experience.
Over half of the startup’s revenue comes from Southeast Asia, with a good mix of clients such as Lego, Maybank, Metro, and small businesses, according to a statement.
The current growth and future potential of the region has driven RateIt to move its headquarters to Singapore, it said.