Spoqa raises $3.9 million in Series B, looks to Japan for expansion

August 6
8:34 AM 2014

Seoul-based Spoqa has raised $3.9 million in Series B funding from Daesung Private Equity Group and Bokwang Investments, and plans to use the investment for expansion in Japan.

The company develops mobile marketing solutions, and operates Dodo Points, a tablet-based loyalty platform for local businesses. Dodo users enter their phone number into a tablet upon checking out with a purchase, and are given points for rewards programs with each store. Unlike other loyalty programs, users are not required to sign up or download an application. Dodo also offers stores a targeted SMS coupon service and charges them monthly license fees.

An estimated 1,500 merchants reportedly signed up with Dodo since it was launched in April 2012.

Spoqa founder Richard Choi said they chose Japan for their expansion due to higher-market opportunities and a product-market fit based on pilot-testing. 

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