Philippines-based livestreaming app developer Kumu has received $73.6m in series C funding from investors including quantitative trading firm Susquehanna International Group (SIG) and telecommunications group Globe Telecom, DealStreetAsia reported yesterday.
Growth equity firm General Atlantic led the round with a $38.9m investment while Openspace Ventures, Gentree Fund, Endeavor Catalyst, Gobi-Core Fund and Foxmont Capital Partners also took part.
Globe Telecom invested $5.2m through its corporate venturing arm, Kickstart Ventures, while SIG provided $15m.
Founded in 2017, Kumu developed a social media platform that allows users to livestream video content and receive rewards from viewers through an integrated payments system.
The company raised an amount of series B financing reported by DealStreetAsia as $15m in June this year, from SIG, Kickstart Ventures, media company Summit Media, Openspace Ventures, Gentree Fund, Gobi-Core Phillipine Fund, Endeavor Catalyst and Foxmont Capital.
Openspace Ventures had previously led an April 2020 round for Kumu sized between $4m and $5m, investing with Kickstart Ventures, Summit Media, conglomerate Ayala Corporation, Gobi Partners and Foxmont.
Summit Media led a $1.2m round for the company in 2018, participating alongside Foxmont, Two Culture Capital and angel investors Jove Schrottmann and Scott Hartley.
