INSUBCONTINENT EXCLUSIVE:
Kumu Holdings, a live streaming startup based in the Philippines, announced today it has raised about $5 million in Series A funding,
earmarked for new features and growing its operations.The round was led by Openspace Ventures, an early investor in Go-Jek, with
participation from Kickstart Ventures, media conglomerate ABS-CBN, Gobi-Core Philippine Fund, and returning investors Summit Media and
Foxmont Capital Partners.With much of the country under COVID-19 lockdown or curfew orders, Kumu says usage of media and entertainment apps
To address demand, the startup has launched new features over the past month to allow organizations like churches and industry groups to
hold online events.Kumu says it now has three million registered users and about 25,000 live streams broadcast each day, with average daily
world, integrating live streaming, video chats and gaming, with plans to add online payments and e-commerce functions, too
additional source of revenue.
