Digital media startup Collab Asia raises US$7.5m in Series B funding

COLLAB Asia, a digital media company and social media influencer network, has raised US$7.5 million in Series B funding in a round led by Korea's Gorilla Private Equity.

Other investors include Samsung Ventures, Japan's PKSHA SPARX Algorithm Fund, Korea-based NCORE VENTURES and Silicon Valley-based Altos Ventures. Collab Asia had raised US$3 million in Series A funds in 2017 from Altos Ventures.

The startup will use the funds to create localised content for Asia and focus on helping creators and content companies produce, distribute, monetise and build audiences across multiple digital platforms.

Collab Asia has offices in Seoul, Tokyo, Jakarta, Hong Kong, Manila and Singapore. The Singapore office is the regional hub for South-east Asia, and will also serve advertisers looking to expand their marketing initiatives in the digital space across the Asia-Pacific.

The company is managing over 1,800 YouTube channels in key Asian markets. The channels span categories such as gaming, beauty, music, lifestyle, animation and comedy, and generate over 2.5 billion monthly views.

Han Kim, managing director at Altos Ventures, said: "Today's consumers crave freshness and authenticity. Influencers and user-generated content leverage social networks to deliver these, and brands are fast realising the value of companies such as Collab Asia as important change agents."