sambaash raises S$2.1 million in investment
Singapore l Redwood City, CA, USA | June 14th, 2012
Asia’s leading enterprise social network solution provider raises funding to drive market adoption
sambaash, a SaaS (Software as a Service) company, which builds and enables online communities for businesses and organizations by leveraging social media, announced today that it has raised S$2.1 million in investment from two Singapore-based investors - Extream Ventures and Stream Global.
More businesses and organizations globally are realizing the need to have purpose-built online communities around their key stake-holders. The International Data Corporation forecasts that the online community software market will grow to $1.6 billion by 2013.
sambaash enables enterprises and businesses to create and deploy their own purpose-built online communities by leveraging established social media platforms. sambaash’s solutions have been deployed in a wide range of industries including travel, fashion, creative, healthcare, education, research, conferences & events and professional communities.
sambaash was founded in 2009 by a team of highly experienced business and technology professionals who have successfully provided business solutions across Europe, the Middle East, Asia Pacific and Australia for more than 20 years at leading global enterprises.
Since its inception, sambaash has had a valuable partnership with Amazon Web Services in Asia Pacific and has been featured in numerous AWS publications. sambaash will use the majority of the funding raised for its market expansion and business development activities in Asia Pacific and Europe.
About Extream Ventures
Established in Singapore in 2008, Extream Ventures is an early-stage venture fund focused on Asia-based, technology-driven companies in the areas of communications, IT software and solutions, interactive and digital media (IDM), and disruptive technology.
Extream Ventures is jointly funded by the Singapore government’s National Research Foundation, which is charged with nurturing the growth of technology-based enterprises in Singapore, and a group of veteran entrepreneurs based in Singapore.
About Stream Global
Stream Global is a Singapore-based venture catalyst which aims to nurture promising start-ups in the emerging information and communication technologies (ICT) and interactive digital media (IDM) spaces. The team members have extensive experience in diverse areas such as fund management, entrepreneurial ventures, technology and business management.