Playbasis, Bangkok-based gamification startup has raised $1.845 million in Series A funding round led by inVent, the venture capital arm of INTOUCH Holdings. Other existing investors like Cherubic Ventures and 500 startups took part in the funding round.
The startup backed by Ardent Capital offers gamification and engagement automation services for businesses. The startup started off with gamification as its major focus which served as essence for Waze, Foursquare and other apps that use leaderboards, badges and competitions to drive engagement in the business space. But, feedback from customers and nascent nature of space made it widen it to other areas. The startup’s founder and CEO Rob Zepeda said, “Playbasis is committed to delivering experiences that are more engaging and more rewarding. We fundamentally believe in the power of play and we believe that gamification represents the cutting-edge in product design and the human-computer interaction.” He also added, “Gamification was where we started, but we added other pillars.”
Apart from gamification, the focus lies on a series of APIs and modules developed to give app developers and game publishers. For business clients, it is developing software and services to help motivate and engage staff and end customers which is outsourced to various marketing agencies in Asia.”The gamification trend that stormed the scene in 2010/2011 was from Gen-X’ers. If you want to reach Gen-Y or others, you have got to start mobile and 3D – these guys never played Pong or Pac-Man.”
With the new funds, Playbasis aims to secure new partnerships and grow into new markets, as well as ramp up their product development and deliver better customer success. The startup has earlier raised financing from Ardent Capital and Axis Capital Partners, adding the total amount the company raised to-date to $2.6 million.
Regarding the investment, Adrian Vanzyl, CEO of Ardent Capital said, “Playbasis’ Series A is an important milestone for both Southeast Asia and Thailand’s startup ecosystems. It shows that enterprise-focused businesses with real IP are alive and well, and able to grow rapidly. Ardent was the first investor to back Playbasis and this substantial round is great validation for both Rob and other aspiring entrepreneurs in this sector.”