Singapore, 11th July 2019 – theAsianparent, Southeast Asia’s largest community and content platform for mums, has successfully raised double digit millions in an oversubscribed Series C funding round. theAsianparent’s oversubscribed Series C fundraise was on the back of significant strategic global investor interest. It was led by Fosun, a family-focused multinational company, and joined by JD.com, Inc., China’s largest retailer, ATM Capital, a Southeast Asian - China fund, Redbadge Pacific - a global alternative asset manager with offices in Asia and the U.S., and existing Series B investors Global Grand Leisure and WHG Holdings.
“Over the years we have grown from a parenting blog into a multinational company with offices in 12 countries. Our move from a content platform to a social network wasn’t an easy one but has significantly accelerated our business to serve as a leading source of information for parents around Asia and the world. One thing that hasn’t changed is our focus on parenting from an Asian perspective,” said Roshni Mahtani, Founder and CEO of theAsianparent. “We are delighted to have support from all our investors, among the biggest names in venture investment across the continent. With the funds we’ve raised, we are looking at expanding into more markets, and will continue to provide a safe space for more women around the world.”
With the fresh funding, theAsianparent looks to drive its expansion into new markets in Asia, and Africa, as well as accelerate plans to further develop their recently launched app. Following its September 2018 launch on the App Store and Google Play Store, theAsianparent app is currently the number one parenting app in Southeast Asia. The app is community-driven, providing parents and parents-to-be with tips and a support network. Other features in the app include curated articles from thousands of experts across Southeast Asia, a baby development and milestone tracker, a photo booth and photo editor, as well as contests and polls for parents to participate and learn from.
"The overall population structure of Southeast Asia is young, and the major economies maintain a high level of fertility. theAsianparent, as the largest maternal and child community in Southeast Asia, has won the trust of young mothers in Southeast Asia and has a huge commercial space. In the past few years, theAsianparent has fully verified its business development and product evolution capabilities. It is an outstanding entrepreneurial team.
“Fosun RZ Capital is a global venture platform under Fosun, we dedicate our presence here into discovering and empowering fast-growing early-stage companies in the region. Having the largest community and traffic in the mom and baby segment in the region, theAsianparent 's addition to the portfolio is strategic and extremely synergistic. Through a deeper collaboration with Fosun's ecosystems, our efforts are made to accelerate the growth of the company and expand the depth and breadth of its reach." Says Wilson Jin, Chairman of Fosun RZ Capital, the VC arm of Fosun.
“With Fosun’s focus on meeting the needs of families, Fosun has been actively investing, developing and supporting companies who are leaders in providing services, products, and platforms in the maternal, infant and family industry, both in China and globally. Fosun is pleased to lead this investment round in theAsianparent, the leader in parenting in Southeast Asia and beyond. "Says Wang Changying, Chairman of Fosun Maternal Infant and Family Group, “theAsianparent further deepens and extends Fosun’s global investments in this industry, enabling synergies and mutual growth within the portfolio."
Jonathan Zhong, Partner of ATM Capital said: “We are excited to be a part of theAsianparent’s journey to becoming Asia’s largest community and content platform for women. With the huge adoption rate of theAsianparent app across Southeast Asia as well as the high level of engagement we see from users, we feel theAsianparent is well positioned to rise to the top across other Asian markets.”
theAsianparent has enjoyed tremendous success, with double-digit millions raised in its latest round of funding. Since its launch, the company has expanded to 180 people across 12 countries and districts, including Singapore — where it is headquartered, Thailand, Philippines, Malaysia, Indonesia, Vietnam, Hong Kong, Sri Lanka, India, Taiwan, Japan, and Nigeria. Since the launch of their first app with a focus on the parents and parents-to-be community, theAsianparent has become the go-to platform for parenting tips and tricks.