Local Food Discovery Platform Burpple To Get Up To US$6 Million Funding From Tembusu Partners, SPH Media Fund and Triumph Capital
Singapore, 1 December 2015 – Burpple, a digital guide to eating places in Singapore and Kuala Lumpur, announced today that it will receive up to US$6 million in funding (approximately S$8.4 million) from Tembusu Partners, SPH Media Fund and Triumph Capital to strengthen existing market position and expand into other gourmet capitals in Asia.
Launched in 2012 by three Singaporeans, Burpple is a mobile app and website that helps users decide where to eat based on recommendations from other food-lovers and Burpple editors. It will use the funds to enhance its existing features, introduce complementary dining services, and hire engineers and product development staff as it prepares for a regional roll out.
The three investment firms are the latest to throw their weight behind Burpple, whose existing shareholders include Neoteny Labs, Silicon Straits, NUS Technologies Holdings and QuestVC. Tembusu is a private-equity firm that invests in fast-growing companies, while SPH Media Fund is the venture-capital arm of Singapore Press Holdings Ltd. Triumph Capital facilitates transnational investments between Australia and China as well as other Asian markets.
Burpple’s users have doubled to more than four million over the last 12 months. Earlier this year, it launched an online service to help F&B owners expand their reach by connecting with Burpple users. More than 1,000 F&B owners have signed up for the Burpple for Business service, which will be further improved using the fresh funds.
Dixon Chan, co-founder and CEO of Burpple, said: “Our mission is to help people enjoy life by finding the perfect places to eat with the people they love. Whether it’s a first date, a business meeting, a weekend dinner with the family, or just a quick snack, Burpple is for you.”
“We are well positioned to match consumers to restaurants as our users are the very ones recommending the joints to other users. This is different from restaurants telling you themselves that they have the best food and that you should give them a try,” Mr. Chan added.
Andy Lim, Chairman of Tembusu Partners, said: “Consumers are always looking for recommendations for the best eating places. Burpple’s unique platform which localises food discovery, has made a name for itself in the few years that it has been in business. We are glad to be able to play a part in their next phase of growth.”
Burpple is available for free download on Apple App Store and Google Play at www.burpple.com/getapp, and available on the web at www.burpple.com.
Burpple for Business is available at www.business.burpple.com.
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Media collaterals can be accessed via: www.burpple.com/press
Founded in Silicon Valley by three Singaporeans, Burpple was launched in May 2012 with a mission to help people find the perfect places to enjoy their meals with the people they love. Three years on, Burpple is now the food discovery platform of choice in Singapore and Kuala Lumpur. Powered by over two million photo reviews from the community, in 2015 alone, over four million people used Burpple to discover great places to eat – be it for first date, a quick meal nearby, brunch with friends, or a family celebration. We believe that food has a special bonding power, and the idea at the core of our company is simple: enjoyment.
Burpple is supported by leading international venture capitalists, Tembusu Partners, SPH Media Fund, Triumph Capital, Silicon Straits, Neoteny Labs, QuestVC, NUS Enterprise and Brad Porteus. For more information, visit www.burpple.com.
About Tembusu Partners
Tembusu Partners is a private equity investment firm investing in growth-stage companies, with a view to generate optimal returns for both investee companies and investors. Headquartered in Singapore, its primary geographical markets are within Emerging Asia – comprising China, India and Southeast Asia. For more information, please visit: http://www.tembusupartners.com/
About SPH Media Fund
SPH Media Fund is the corporate venture capital fund of Singapore Press Holdings Ltd with a fund size of S$100 million. Led by CEO Chua Boon Ping, SPH Media Fund has a global mandate and seeks to invest in early-stage innovative companies in the areas of Digital Media (including advertising technology and content aggregation/ distribution/ consumption) and Consumer Internet (including e- commerce, marketplaces, social media, education technology, financial technology, etc).
Singapore Press Holdings Ltd is Asia’s leading media organisation. Incorporated in 1984, it is listed on the Singapore Stock Exchange and is in media, online classifieds, properties, events and out-of-home advertising as well as other businesses.
About Triumph Capital
Triumph Capital Limited is an international investment house with strong networks across Australia, Greater China and North Asia. Supported by significant strategic partners in the Asia Pacific, Triumph facilitates smooth transnational investment between Australia and China, as well as other Asian territories. Triumph has offices in Sydney and Shanghai, focused on corporate advisory, wealth management and asset management.
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