Digital media platform MediaLoad (Cambodia) has secured more than $3 million investment in a second round of funding to expand its operations.
The company, which runs lifestyle and entertainment site KhmerLoad, announced it has received series B funding from True Digital Group, a subsidiary of True Corporation, owned by Thai conglomerate Charoen Pokphand Group.
The deal makes True Digital Group a majority stakeholder.
The Cambodian startup founder and entrepreneur In Vichet told Kiripost in an interview on Monday that “it is the first tranche of our series B. We’ve acquired some companies to expand regionally, including Malaysia, Laos and India”.
Vichet said, “The whole round of Series B is bigger than $3 million, and it’s ongoing.” He added that the ultimate aim is to raise more than $10 million to complete the company’s expansion plans.
In late June, the Singapore-registered company partially acquired Ace Media Network (AMN), a media tech company based in Malaysia. The move paves the way for the company to compete in influencer marketing.
In September 2020, the viral content media startup also secured an undisclosed amount of Series A funding from the same investor to increase its content offerings and expand its site.
MediaLoad made news headlines in 2019 when it secured investment of $5 million – the largest in Cambodia’s startup funding history – from Belt Road Capital Management (BRCM).
In 2017, 500 Startups, a Silicon Valley-based venture capital firm, provided $200,000 in seed funding to MediaLoad. This made it the fastest growing media startup in Cambodia, with aggressive expansions in recent years.
Launched in 2012, MediaLoad runs KhmerLoad, which publishes lifestyle, entertainment, and viral content for the Cambodian audience, and sister site MyanmarLoad. KhmerLoad has more than 6 million social media followers and offers digital advertising, PR articles and live streaming, among others as part of its revenue stream.
At a tech startup pitch event in Phnom Penh in early June, Visal, also KhmerLoad Chief Technology Officer, told the audience and a group of investors from France that Groupin, the parent company of MediaLoad, has raised more than $10 million in investment and employs more than 400 staff in Cambodia, Myanmar, and Malaysia.
MediaLoad PTE. LTD. is a private company limited by shares, incorporated on 28 November, 2016 in Singapore.
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