# Pencil funding: rounds and investors

> Pencil has raised $3.9M across 2 rounds since 2019. Investors include Wavemaker Partners, Entrepreneur First and SGInnovate. Every round with its source.

Source: https://millionrounds.com/company/pencil (Millionrounds; every figure on the page links to its filing or article)

Singapore · [Seed startup](https://millionrounds.com/companies)

# Who invested in *Pencil*

2 rounds we have observed, with the 3 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Advertising & Adtech

Funding summary Updated 26 Oct 2026

**$3.9M** raised across 2 rounds since 2019, from 2 sources

**$1.1M** Seed **$2.8M** Seed

- **Latest round:** Seed, $2.8M May 2020
- **Step-up i:** 2.5×
- **Investors:** 3 (1 led)

See who backed them

## The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

2020

**$1.1M** Seed

**$2.8M** Seed

- **First round:** Seed, $1.1M
- **Biggest round:** $2.8M
- **Between rounds:** 12 months

## The rounds

- **May 2020** Seed **$2.8M** *1 returning* [Wavemaker Partners](https://millionrounds.com/fund/wavemaker-partners-3) Source recorded
- **May 2019** Seed **$1.1M** *3 new* [Wavemaker Partners](https://millionrounds.com/fund/wavemaker-partners-3) Lead [Entrepreneur First](https://millionrounds.com/fund/entrepreneurs-first) [SGInnovate](https://millionrounds.com/fund/sginnovate) Reported by Businesstimes

## Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

**Seed** 2019 **Seed** 2020 [Wavemaker Partners](https://millionrounds.com/fund/wavemaker-partners-3) L [Entrepreneur First](https://millionrounds.com/fund/entrepreneurs-first) [SGInnovate](https://millionrounds.com/fund/sginnovate)

## Everyone who backed them

[Wavemaker Partners](https://millionrounds.com/fund/wavemaker-partners-3) VC firm **2** rounds, led 1

[Entrepreneur First](https://millionrounds.com/fund/entrepreneurs-first) Accelerator **1** round

[SGInnovate](https://millionrounds.com/fund/sginnovate) VC firm **1** round

Missing a round, or an investor who was in one? [Tell us](https://millionrounds.com/corrections?slug=pencil).

## Quick answers about Pencil

### Who invested in Pencil?

Pencil's investors include Wavemaker Partners, Entrepreneur First and SGInnovate.

### How much has Pencil raised?

Pencil has raised $3.9M across 2 rounds since 2019.

### When did Pencil last raise?

Pencil's most recent round was a Seed of $2.8M in May 2020.

### What was Pencil's biggest round?

Its most recent round, $2.8M in May 2020, is also its largest on record.

### Who backed Pencil first?

Pencil's first round on record, in May 2019, was backed by Wavemaker Partners, Entrepreneur First and SGInnovate.

### What stage is Pencil at?

Pencil's latest named round is a Seed, in May 2020.

### Where is Pencil based?

Pencil is based in Singapore.

### Who led Pencil's rounds?

Wavemaker Partners led the Seed in 2019.

## Companies like Pencil

In the same sector, and raised in the last eighteen months.

[**HeyMax** $11M · Jan 2026](https://millionrounds.com/company/heymax)[**Quickads** $1.7M · Nov 2025](https://millionrounds.com/company/quickads)[**gimmefy** $1.1M · Jun 2025](https://millionrounds.com/company/gimmefy)[**Kevel** $75M · Oct 2026](https://millionrounds.com/company/kevel)[**Cuttable** $29M · Oct 2026](https://millionrounds.com/company/cuttable)[**Whop** $400M · Oct 2026](https://millionrounds.com/company/whop)

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