Dable, a South Korea-based content discovery platform, announced today it has raised US$12 million in a Series C funding round at a valuation of more than US$90 million.
The round was led by Korean VC fund SV Investment, alongside new investors KB Investment and K2 Investment Partners. Returning investor Kakao Ventures also participated.
Having closed its US$5.4-million Series B round in April 2018, the Korean startup’s total raise has exceeded US$20 million.
Dable said in a statement it plans to utilise the fresh financing to accelerate international expansion into six additional countries, including Hong Kong, Singapore, Thailand, China, Australia and Turkey in 2021.
In addition to its longer-term plans to provide its services to the US and Europe, the startup aims to service all Asian countries by 2024.
Founded in 2015, Dable recommends “high-quality” personalised content to media, e-commerce and other content providers such as blogs and apps. This helps increase engagement rates, bringing in additional ad revenue for these media platforms.
The platform claims its average annual sales growth rate has been upwards of 50 per cent. In 2020, sales reached US$27.5 million, rising 63 per cent year-on-year, driven by expansion in the Asian market.
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Dable claims it recommends five billion pieces of content to 500 million users per month, resulting in 100 million clicks per month through its platform.
So far, it claims to have partnered with over 2,500 media outlets across Asian markets, including South Korea, Japan, Taiwan, Indonesia, Vietnam and Malaysia.
The company shared it has experienced good growth in Taiwan, exceeding US$400,000 in monthly sales, within two years of launching.
“Dable’s personalised recommendation solution contributes to improving the media’s competitiveness, enhancing advertisers’ performance, and increasing user satisfaction on the internet,” said Chaehyun Lee, CEO of Dable.
“Dable creates meaningful business performance by incorporating AI solutions into the media and advertising fields. It is a company whose future is highly anticipated,” said Kijun Kim, Partner at Kakao Ventures.
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Image Credit: Dable
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