Rodeo, an ad-tech company specialising in transit advertising mainly on Ride Sharing, Food Delivery and Last Mile Delivery has announced that it is set to raise first round of funds via equity crowd funding platform, pitchIN.
They started its operation since 2017 and is targeting to raise a minimum of RM500,000 (USD120,000) and is currently Live on pitchIN.
Brands, advertisers and agencies will be entitled for exclusive 30% discounts or rebate from all Rodeo media assets for life. They can be part of Rodeo’s journey and enjoy better ROI from being an early investor.
Launched 36 months ago, Rodeo has on-boarded more than 50 strong brands and has executed more than 100 campaigns.
Rodeo comprises of 10,000 fleets of cars, taxis, motorcycles and trucks and has contributed more than RM1M to the gig economy.
It was during the downtimes of the 2020 Movement Control Order (MCO) that Rodeo decided to pivot to Online by introducing RodeoGO.
RodeoGO is an influencer marketing gamification app, first of its kind, to revolutionise advertising space inspired by PokemonGO.
Rodeo’s Chief Executive Officer and Founder, Valens Subramaniam shared that “Due to the pandemic, we saw that there was a growing demand and trend for RodeoGO especially when users are practically on idle mode be it at home and glued on their mobiles phones, TVs and computers. This brings us a good mix of Offline and Online.”
Inspired by their company’s revenue that hit RM4.4Million (USD1.2M) in 3 years, they are upping their game by setting a new target revenue of RM1.9M (USD500K) by end of 2021.
As of date, Rodeo has secured contracts in value of RM924,200 and on-boarded Perodua – Malaysia’s largest automotive manufacturer and Boon Siew Honda as new clients to the portfolio.
Rodeo’s vision is to bring its platform and technology to all top e-Hailing cities in the world. Their first Asean outreach is confirmed, India, with a partnership model which will be launched soon.
Rodeo being a self-funded start-up with merely RM10K paid up capital has brought the company’s valuation to RM20Million.
The investments raised will be used to increase work force, incorporate AI technology such as Computer Vision and Machine learning and marketing to scale the business and capture market share.