Community and content platform for parents theAsianparent has secured an additional 7-figure Series C2 funding round from new investors Mirae Asset and Naver Corp through the Mirae Asset-Naver New Growth Fund, the company announced today.
The fresh founds from the Korean investors will be used to further diversify theAsianparent’s business strategy, including expanding its foray into the commerce business, said the company, which first announced its intention to launch its own direct-to-consumer line of maternity and baby products after it closed the first round of Series C in July this year.
The company raised an 8-figure Series C funding round led by Fosun and joined by JD.com, ATM Capital, and Redbadge Pacific, in addition to existing Series B investors like Global Grand Leisure and WHG Capital.
The products will be first introduced in Indonesia, Thailand, and Malaysia which are the company’s strongest markets. The goods will be available both online and offline, the company announced earlier this year at a media briefing.
Besides ramping up its commerce business, theAsianparent will also allocate more resources to improve its technology infrastructure to support its growing community. The company will invest in advanced machine learning, artificial intelligence support, and will expand its tech team.
From its founding in Singapore in 2009, theAsianparent’s platform is currently Southeast Asia’s largest parenting platform, available in 12 countries and 11 languages, reaching over 30 million mothers across its markets. The company is working towards a USD 100 million revenue milestone within the next few years.