Mediaload founders
Mediaload, a Cambodia-based digital media company, has secured an undisclosed sum in Series A funding round from True Digital Group (TDG), a digital arm of Thai telco True Corporation.
The startup, which also has operations in Myanmar, will use the funding to enhance its content offering on its platform and expand into new regions.
“With this strategic investment, we will be able to leverage our content offerings in our existing markets and expand to other markets in the region,” said Vichet In, CEO of Mediaload.
Founded by siblings Vichet, Vichea and Visal In, Mediaload runs Khmerload in Cambodia and Myanmarload in Myanmar. It offers millennial-focused content on a wide range of topics, including entertainment and sports, and claims to have eight million unique users per month with 20 million social media followers.
The startup has previously received US$200,000 in seed funding from 500 Startups.
Also Read: iMedia buys controlling stake in Goody25’s Malaysian parent
Mediaload’s parent Groupin operates e-commerce startup Little Digital in Cambodia, which in 2019 raised US$5 million in Series A from PE firm Belt Road Capital Management.
Also Read: Malaysian digital media group REV Asia to acquire iMEDIA for US$9.6M
TDG currently operates in Thailand, Indonesia, the Philippines, and Vietnam with a roadmap to expand further across South Asia, leveraging the economies of scale of digital platforms.
According to Statista, the value of the online media market in Southeast Asia in 2019 was US$14.3 billion. Indonesia had the highest online media market value from selected countries, of which the online media market value was US$3.5 billion.
—
Image Credit: Mediaload
The post Cambodia’s Mediaload raises Series A from True Digital to expand into new markets appeared first on e27.