ADA Revenue, Valuation, Funding & Investors

ADA is valued at $550M as of November 2023.

See full ADA profile

Last ADA valuation

$550M

Strategic investment · Nov 2023

Last ADA funding round

$58M

Strategic investment · Nov 2023

ADA revenue

$72M

Strategic investment · May 2021

Key investors in ADA

ADA Overview

About ADA

ADA is a Singapore-headquartered provider of AI-powered customer service automation platforms tailored for e-commerce brands across Asia. The company delivers end-to-end conversational commerce tools that handle marketing automation, content personalization, store operations, and messaging integrations with platforms like Shopify and Zendesk. ADA serves major retailers such as Zalora and Lazada, enabling real-time customer interactions through chatbots and voice assistants. With a focus on Southeast Asia, ADA supports multilingual capabilities in English, Bahasa, Thai, and Vietnamese to drive sales conversions and operational efficiency.


Founded

2013

HQ

MalaysiaKuala Lumpur

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$72M (May 2021)

Valuation

$550M (Nov 2023)

ADA Valuation

ADA is currently valued at $550M, based on its strategic investment round in November 2023.

The $58M round was led by Mitsui & Co.

ADA's valuation has grown 2.1x from $260M at its strategic investment round in May 2021 to $550M in November 2023, across 2 priced rounds.

ADA valuation by funding round

Revenue multiple
ADA valuation by funding round
DateStageValuationRevenue Multiple
Nov 2023Strategic investment$550M-
May 2021Strategic investment$260M3.6x

ADA Revenue

ADA's latest recorded revenue is $72M, as of its strategic investment round in May 2021. At a $260M valuation, that implies a 3.6x revenue multiple.

ADA revenue by funding round

ADA revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
May 2021$72M$260M3.6xStrategic investment

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

ADA Funding History

ADA has raised a total of $138M across 3 funding rounds.

ADA's first fundraising round was a $20M strategic investment round in July 2018. The most recent completed round was a $58M strategic investment round in November 2023.

ADA funding rounds

ADA funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2023Strategic investmentMitsui & Co (lead)$58M$550M-
May 2021Strategic investmentSoftBank Group (lead)$60M$260MADA refers to Axiata Digital Advertising Sdn. Bhd., a data and AI marketing company and largest-class player in Southeast Asia, in which SoftBank Corp. holds a 23.1% stake as of November 2021. The company focuses on customer data platforms (CDP), integrating siloed customer data for enterprises across store marketing, sales, e-commerce, manufacturing, and more, with high synergy to SoftBank group assets. It has No. 1 CDP share in Japan, transactions with 95% of large Japanese corporations, and rapid business expansion in Asia including DX development in Southeast Asia. ADA is positioned alongside initiatives like international QR code payment ecosystems via TBCASoft Inc. Financial traction for ADA shows strong growth: revenue increased from JPY 5.0 billion (Apr-Sep 2020) to JPY 11.5 billion (Apr-Sep 2021), a 130% rise, with EBITDA rising from JPY 0.3 billion to JPY 0.08 billion over the same periods (figures calculated by SoftBank Corp. at Sep 30, 2021 exchange rate). This reflects rapid overseas expansion.
Jul 2018Strategic investmentSumitomo (lead); Axiata$20M-ADA (analytics. data. advertising), the integrated digital advertising business of Axiata Digital Sdn Bhd, secured a US$20 million strategic investment from Sumitomo Corporation in July 2018, marking its first external funding round. Sumitomo, a Fortune 500 Japanese firm, acted as the lead strategic partner alongside Axiata, aiming to accelerate ADA's growth in Southeast Asia where it positioned itself as the largest independent digital agency. ADA combined data science, creative services, and technology via its proprietary telco-powered data management platform Xact, operating in eight Asian countries with over 200 digital specialists including 50 data scientists. The investment focused on enhancing the Xact platform through cutting-edge technology, driving product innovation, and expanding into affiliate marketing and digital advertising, particularly targeting Japanese advertisers and agencies. Key clients included CIMB, LINE MAN, Sushi King, TGV, and Timberland. Leadership, including CEO Srinivas Gattamneni and Axiata Digital Services CEO Mohd Khairil Abdullah, emphasized data-driven marketing and regional expansion to solidify ADA's trajectory as the leading integrated digital firm leveraging telco analytics by 2021. Subsequent developments show strong growth: by 2023, ADA celebrated five years with solid triple-digit YoY growth since 2018, reaching approximately USD300 million top line revenue, USD20 million operating profit (profitable in 4 of 5 years), serving 3,000+ brands, winning 220 APAC awards, and expanding to 11 markets with 1,200 specialists. Founding backers included Axiata, SoftBank Corp, and Sumitomo.

Who has invested in ADA?

4 investors have backed ADA across its funding rounds, including SoftBank Group, Mitsui & Co, Sumitomo and Axiata.

Lead investors include Mitsui & Co, SoftBank Group and Sumitomo.


ADA Investors

Investors in ADA by funding rounds participated
InvestorHQRoundsRoleFirst check
AxiataChinaSuzhou1ParticipantJul 2018
SoftBank GroupJapanTokyo1LeadMay 2021

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Acquisitions by ADA

ADA has acquired 4 companies to date.

Last acquisition by ADA was on December 17th 2024. ADA acquired Customore for undisclosed valuation.


Latest Acquisitions by ADA

Customore
dhiOmics Analytics Solutions
SingPost's ECommerce
Awake Asia
Description
Customore is an e-commerce data consolidation platform. It aggregates sales, inventory, and customer metrics from multiple channels like Shopify, Amazon, and Walmart into unified dashboards. The tool enables retailers to analyze performance across marketplaces, track stock levels in real-time, and generate compliance reports. Customore serves mid-sized online sellers with API integrations and automated data syncing for informed repricing and inventory decisions.
dhiOmics Analytics Solutions is an Indian tech startup delivering analytics, machine learning, artificial intelligence, and data engineering services. The company enables data-driven decisions for businesses via platforms accessible at dhiomics.com. Solutions target optimization in operations and strategy across industries.
SingPost's ECommerce is a logistics and fulfillment arm of Singapore Post supporting cross-border e-commerce for global brands. The division operates warehouses in Singapore, Australia, Japan, and the UK, providing end-to-end solutions including inventory management, order fulfillment, last-mile delivery, and returns processing. SingPost's ECommerce powers platforms like Shopee and Lazada through API integrations and customs clearance services.
AAD - Awake Asia is a Singapore-based eCommerce agency specializing in platforms for brands across Southeast Asia. The company builds Shopify, Magento, and custom stores with integrations for payments, logistics, and marketing tools tailored to markets in Indonesia, Thailand, Vietnam, and Malaysia. Awake Asia enables direct-to-consumer sales for fashion, beauty, and consumer goods brands through localized SEO, mobile optimization, and regional payment gateways.
HQ CountryVietnamIndiaSingaporeSingapore
HQ City
Ho Chi Minh City
Bangalore
Singapore
Singapore
Deal Date17 Dec 20246 Apr 202325 May 20222 Jun 2021
Valuationundisclosedundisclosedundisclosed$20M
EV/Revenue
EV/EBITDA

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ADA Competitors

ADA competitors include listed companies like Rezolve AI, Litium, Vtex and Auction Technology Group, and private ones like Postscript and Contentstack.

Public and private companies comparable to ADA
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
PostscriptUnited StatesPhoenix, AZPrivate$39M-$636M16.3x
Rezolve AIUnited KingdomUnited KingdomPublicly listed$47M($109M)$950M4.0x
LitiumSwedenSwedenPublicly listed$8M$2M$20M1.9x
ContentstackUnited StatesAustin, TXPrivate--$574M-
VtexBrazilBrazilPublicly listed$241M$22M$603M1.7x
Auction Technology GroupUnited KingdomUnited KingdomPublicly listed$190M($93M)$710M3.5x

ADA Public Comps

ADA is still privately-owned, but its public comps include THG, Vtex, Quadient, Sprout Social, Beijing Quanshi World, Locaweb, Weimob, Auction Technology Group, Nordtech Group and Softcreate Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
THG$2.3B$133M0.5x0.5x9.2x9.7x
Vtex$241M$22M1.8x1.7x19.2x10.5x
Quadient$1.2B$100M1.1x1.1x12.8x4.8x
Sprout Social$458M($31M)1.3x1.2x(18.6x)8.1x
Beijing Quanshi World$169M($19M)2.3x-(20.8x)-
Locaweb$289M($31M)1.4x1.3x(12.8x)5.4x
Weimob$237M($10M)2.1x1.9x(51.7x)25.0x
Auction Technology Group$190M($93M)4.6x3.5x(9.3x)10.1x

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Common questions about ADA

When was ADA founded?ADA was founded in 2013.
Where is ADA headquartered?ADA is headquartered in Kuala Lumpur, Malaysia.
Is ADA publicly listed?No, ADA is a private, VC-backed company.
What is ADA's valuation?ADA was last valued at $550M in its strategic investment round in November 2023.
How much funding has ADA raised?ADA has raised $138M across 3 funding rounds.
What was ADA's last funding round?ADA's last funding round was a $58M strategic investment round in November 2023, led by Mitsui & Co.
Who are ADA's investors?ADA's investors include Axiata, SoftBank Group, Sumitomo and Mitsui & Co.
What is ADA's revenue?ADA's latest recorded revenue is $72M (May 2021).
What is ADA's revenue multiple?ADA's latest valuation implies a 3.6x revenue multiple ($260M valuation on $72M of revenue).
Which companies are comparable to ADA?Companies comparable to ADA include Postscript, Rezolve AI, Litium, Contentstack, Vtex and Auction Technology Group.
How many companies has ADA acquired?ADA has acquired 4 companies, including Customore, dhiOmics Analytics Solutions, SingPost's ECommerce and Awake Asia.
What was the largest acquisition by ADA?The $20M acquisition of Awake Asia in June 2021 is the largest acquisition ADA has made to date.

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