IsItUp also offers onsite onboarding services, including QR code asset tagging, sorting through licenses, and uploading of asset information to the platform

IsItUp.com, an online platform for tracking and monitoring fixed assets such as computers furniture and office equipment, has raised undisclosed sum in investment from ASEAN-focused venture capital firm Gobi Partners.

This funding comes less than six months after the startup received a “six-digit figure in seed investment from 8capita and 500 Startups.”

“It (the investment) is for further platform development for enterprise clients and sales,” IsItUp Co-founder and CEO Andrew Diamond told e27.

“The additional support from Gobi Partners, together with our existing investors 500 Startups and 8capita, provides us a strategic network and valuable mentorship that will support our growth ambitions in the region,” he added.

Launched in November 2015, Malaysia- and Singapore-based IsItUp is a cloud platform that enables companies to easily track and manage company assets in a cost-effective and decentralised way.

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Aside from its cloud management solution, the IsItUp also offers onsite onboarding services, including tagging, sorting through licenses, and uploading of all asset information to the platform. In addition, it provides QR code asset tags to clients, as well as network scanning capabilities. Businesses simply scan an asset’s QR code and the relevant information will be available immediately through its app, available on Google Play and the Apple App Store.

“The ability to have live reporting and auditing for an enterprise that has offices in multiple locations and countries is a game-changer. Leveraging mobility and the cloud, companies move from having a handful of individuals responsible for thousands of assets across the entire company, to empowering individual departments to be responsible for auditing and verifying their data,” said Diamond.

Gobi Partners’ ASEAN Investment Director Victor Chua said: “IsItUp.com operates in one of the least exciting sectors. However, it serves as a significant and effective method for companies to minimise wastage and hence optimise expenditure of businesses. This is especially important when the economy swings and hits a downward trend – cost optimisation becomes a key strategy for most corporates to survive.”

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“We at Gobi believe that the team behind IsItUp.com has the relevant background and experience to handle and meet the demand of their clientele, which are usually enterprises with significant investments in assets. As large corporates expand, their company asset registers tend to get messier,” Chua added.

Founded in 2002, Gobi is a leading VC firm with an investment focus on early-stage, digital media, IT and TMT companies. Headquartered in Shanghai, Gobi has six offices across China, Hong Kong, Singapore and Malaysia. The firm has invested in over 170 companies across China and ASEAN.

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