Singapore’s technology-driven media company Hepmil Media Group announced that it raised $10 million in its latest Series A funding round.
This is the first fund raised by the Group from institutional investors since its founding in 2015. The latest funding round was led by Quest Ventures, Pavilion Capital, and Bent Pixels.
Hepmil Media Group will use the fund for its expansion plans in the region, which include strengthening its leadership in the digital media by growing its content and creators’ platform and capabilities, along with its expansion of esports and gaming network.
Karl Mak, CEO, and Co-Founder of the Group, said the additional funding would help them up their game in the digital media space in Singapore and Southeast Asia.
“Through expansion and investing in capabilities building to push new, innovative solutions for brands, we hope to be able to redefine Southeast Asia’s digital media and entertainment sector, and to remain the preferred platform for brands to work with,” Mak said in a statement.
Jeffrey Seah, a partner at Quest Ventures, said with the increasing digitalized audience in Southeast Asia, consumers and organizations now seek “differentiated, alternative and now-current avenues to communicate, converse and convert.”
Seah added that they are impressed with Hepmil Media Group’s founders and their leadership bench that they feel it is “well-positioned to achieve its vision to become a key player in Southeast Asia’s media scene through its commitment in growing its diaspora footprint and professional services capabilities.”
Hepmil Media Group owns SGAG, MGAG, PGAG, as well as digital creator agency Hepmil Creators’ Network.
The Group also plans to grow more revenue streams, particularly in developing content capabilities to serve regional commerce players in their direct-to-consumer efforts, as well as plans to expand into Thailand and Vietnam in 2022.
In 2020, Hepmil Media Group witnessed a strong revenue performance in 2020 despite the pandemic-driven challenges. It attributes the solid performance to rising demand for online content and advertising inventory, as brands pivot to a digital-first approach to reach an ever-growing revenue stream from one to eight.