Triller, a US-based video creation app developer backed by internet-of-things software provider Carnegie Technologies, has raised $28m from investment vehicle Proxima Media, the Wall Street Journal has reported.
Proxima Media, an investment entity formed by film producer Ryan Kavanaugh, provided the funding in connection with a series B round of undisclosed size that it led with participation from private investors including Mahi de Dilva, who has also been appointed chairman of the company.
Founded in 2015, Triller has created a social music video-editing app that automatically splices songs from the company’s content library with personal video clips shot by the user, who can then exhibit the videos on social media.
The company claims 13 million active monthly users and has licensing agreements in place with music labels including Warner Music, Sony Music Entertainment and Universal Music Group.
The cash will support Triller’s growth and product development objectives, which include integrating Proxima Media-sourced content and a machine-learning driven music media editor called MashTraxx which the company revealed it has recently acquired.
Triller had previously raised $5m in a February 2018 series A round led by Carnegie Technologies, two years after closing a $4.5m seed round funded by unnamed investors. Rocketship.vc, Lowercase Ventures and Ridge Ventures are among its earlier backers.