Data collection startup Tictag raises US$1.3m in pre-Series A funding

TICTAG has raised US$1.3 million in its pre-Series A funding round led by venture capital firm M Venture Partners, said the Singapore-based data collection and annotation company on Wednesday (Jun 15).

The company said it has plans to use the funds to accelerate its presence across Asia, having already set up operations in Singapore, South Korea and Indonesia. It will also continue its investment in technology.

Founded in 2019, Tictag aims to reduce the complexity in data annotation by crowdsourcing data on its app platform into bite-sized portions. Companies are thereafter allowed to collect, classify and annotate the data through a variety of data annotation types, including Bounding Polygons, Audio Transcription and Named Entity Recognition.

“With this investment, we’re setting our sights on growing not only our customer base but our Tagger base and technology as well across Asia, tapping into the diverse experiences of our new strategic investors,” said Tictag chief executive and co-founder Kevin Quah.