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Kumu Raises Series C Led By General Atlantic, Aims To Create The World’S Largest Participatory Social Network With Over Us$100M Total Funding To Date

Oct 27, 2021•over 3 years ago

Amount Raised

$100 Million

Round Type

series c

Manila

Description

Filipino social entertainment platform Kumu has raised a Series C led by General Atlantic, a leading global growth equity firm with more than 40 years of experience scaling disruptive businesses internationally. Existing investors Openspace and SIG also participated. This transaction marks the largest equity financing to date for a Filipino startup not founded as a subsidiary or spinoff of an established conglomerate. It also marks General Atlantic’s first investment in the Philippines.

Company Information

Company

Kumu

Location

Manila, National Capital Region, Philippines

About

Kumu is a powerful social media platform that brings the voices of Filipinos from all over the globe at the forefront. Aside from presenting users with real-time earning opportunities as a live streamer, chances to win cash in various game shows, and engagement in campaigns, Kumu also fosters communities that ignite relevant discussions among Filipinos. According to mobile-app performance company App Annie, Kumu is not only the first Filipino app to be the #1 top grossing social app in the Philippines, but one of the highest grossing social apps in the world, ranking in the top 10 in multiple markets’ app stores, including in Canada, Australia, the Middle East, Europe, Hong Kong, and Singapore. www.kumu.ph

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech