Singapore-based Sealed Network, a Southeast Asia-focused expert network, has scored an undisclosed amount in Pre-Series A funding led by Asia-focused venture capital firm Quest Ventures.
Investment networks such as XA Network and Alumni & Angels also participated in the round.
The fresh funding will be used to fuel Sealed Network’s regional expansion by broadening its pool of experts. A portion of the capital will also be channelled to invest in internal search technology and platform development.
Upon the transaction, Jeffrey Seah, partner at Quest Ventures and ex-WPP and Publicis Groupe regional senior executive, will join Sealed’s board.
Founded in 2019 by ex-Grab executive Benjamin Emmanuel Lee and former Wavemaker Partners’s investment professional Leo Wen Ge, Sealed Network links investment managers, strategy consultants and market research firms up with experts for due diligence and research process.
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Notable experts include Arum Kang, founder of Coffee Meets Bagel; Michael Tay, former Ambassador of Singapore to Russia; and Charles Yong, previously senior client partner at Korn Ferry.
Sealed boasts that its platform has built a network of over 35,000 experts spanning 25 industries, doubling down on a mission to connect the region’s top minds with organisations from across the world.
“When we started, we realised that many experts in Southeast Asia are either not on English language platforms or have a minimal online presence,” Lee shared with e27 in an interview. “This has quickly turned into a source of strength for us as we have been able to gain traction amongst local experts in almost every country in the region.”
Sealed Network claims that its business figures exceeded internal forecasts by more than two times, which is in line with the double-digit annual growth of expert networks worldwide, according to a study released by Integrity Research Associates and expert network aggregator Inex One.
“Expert networks provide valuable professional advisory for companies in their go-to-market strategies,” noted Jeffrey Seah, Partner at Quest Ventures. “Sealed brings unparalleled local expertise, enabling new Southeast Asia entrant businesses to better navigate a diverse but economically promising region.”
Globally, startups leveraging this model also snagged sizable deals, including Berlin-based Atheneum’s US$150 million funding, Chicago-headquartered Tegus’ US$90 million Series B round, while Gerson Lehrman Group (GLG) has filed for an IPO in the US.
Within Asia, China-focused Capvision is eyeing a US$300 million listing on the Hong Kong Stock Exchange.
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Image Credit: Sealed Network
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