Podotree, an online content subsidiary of South Korea-based social media company Kakao, has raised ₩125bn ($107m) in a round led by private equity firm Anchor Equity Partners, according to The Korea Herald.
Anchor Equity was joined in the round by the Singaporean state-owned GIC and undisclosed additional participants. Podotree is now valued at ₩500bn, according to a statement.
Founded by Kakao in 2010, Podotree operates social publishing platform Kakao Page and Daum Webtoon, the cartoon-focused platform launched by internet portal Daum prior to its 2014 merger with Kakao.
Podotree plans to use the funding to secure more original content for its platforms and intends to put money into growing its advertising and online video offerings in order to complement its comics and text-based content.