Malaysian golf-booking platform Deemples announced today that it has bagged a US$2 million (about RM9.58 million) investment from V Ventures, a Singapore-based corporate venture capital firm.
The fresh funds will be used to drive Deemples’ growth and enrich user experience, a press release stated. The investment will also facilitate the brand’s plans to expand its presence in Southeast Asia.
Ahmad Daleen, Chief Technology Officer of Deemples, said, “We will use the funds to build a scalable best-in-class product, with a keen focus on relentless innovation, formula for product market fit, and to ultimately expand into untapped markets.”
This funding comes at a time of rapid growth for Deemples, which reported that it has seen its business double yearly for the past four years in Malaysia. Furthermore, the startup posted its first net profit in 2023.
In an interview with Vulcan Post, CEO and founder David Wong elaborated, “There are still a lot of gaps in the current booking process of tee times for golf courses. Whilst there are current solutions that some golf courses have adapted, it still doesn’t deliver a seamless experience for both golfers and golf course teams.”
Deemples does well on the user front, David said, but the team recognises that there’s room for improvement with the golf course interfaces and integrations.
Thus, a big goal now is to work closely with golf courses to deliver integrations with their existing solutions to minimise processes for golfers to book, check-in, and play.
Who is Deemples
Previously featured on Vulcan Post in 2018, Deemples was originally inspired by the founder’s personal desire to find golf buddies.
Today, the startup has expanded its vision to further enable golfers to plan their games effortlessly, whether it’s a spontaneous round, a tournament, a club match or a prearranged outing.
Essentially, Deemples allows users to book golf games, pay in advance, and compare prices online.
Adopting a tech-first philosophy and designed-for-golfers approach, Deemples has grown its number of active golfers by 200% since their last fundraising round in 2020.
The release also pointed out that this growth is reflected in the general trajectory of Malaysia’s golfing community last year.
In 2023 alone, the team claims there had been a 100% growth observed in said community, signalling a rise in the interest for golfing. Deemples is poised to address this growing interest with its platform.
This reflects a deeper commitment to mastering and enjoying the sport. This growth can be attributed to increased accessibility to golf courses and training facilities. Overall, the future looks promising for the Malaysian golfing community as it continues to expand and evolve.
The Deemples team believes it has played a significant role in shaping and expanding the golfing community across Malaysia.
Operating as the first two-sided marketplace locally, Deemples benefits users by enhancing their experience, while also helping golf courses increase their revenue and attract more players to their facilities.
“The goal is to help our partners fill up unsold slots, optimising their revenue stream as well as helping them secure revenue upfront especially for peak periods, to minimise last-minute cancellations and no-show risks, which leads to a loss in revenue for our partners,” David said.
YBHG Admiral Tan Sri Dato Setia Mohd Anwar Mohd Nor (R), President of the Malaysian Golf Association and Executive Chairman of The Mines Resort and Golf Club, attested to this.
“Deemples has helped golf courses in Malaysia to provide a new level of service for both new and existing golfers over the last four years,” he said. “We at The Mines Resort and Golf Club were able to launch on the platform easily and immediately start receiving bookings from their users.”
David explained that Deemples’ current business model is a commission model, similar to platforms like Uber, Agoda, and Grab. These commissions are borne by their golf course, golf academy, and indoor golf centre partners.
Bringing Deemples into other countries
With a steady growth in the Malaysian market from last year, Deemples is set to continue to provide the best golf booking and matching experience in Malaysia. But more than serving the local market, it aims to expand across the region.
“We understand every Southeast Asian market is different and that also extends to the golfing culture,” David said. “We are aware that we cannot blindly replicate what works in Malaysia and expect the same results, so we will be focusing on localising our outreach for each market and planning for sustainable expansion.”
At the moment, Deemples does not have a fixed roadmap for their expansion. David explained, “When the time is right, we will plan our entry into each market carefully to ensure a successful launch of Deemples.”
Featured Image Credit: Deemples
