Kpop video community startup Amazer raises US$1.3M in Series A funding led by BTC Investment
Korea based Kpop video community Amazer has raised $1.3 Million US in Series A funding from BTC Investment, ICB, and others.
Founded in 2016, Amazer is a global Kpop video Community where Kpop creators can upload Kpop-related dance, lip-sync, selfie videos. Furthermore, they provide a video community platform where the young generation can share their passion for Kpop artists and music.
The Amazer App
The app allows users to upload 15 to 30 second long videos. These videos will be of them dancing and lip-syncing to K-pop songs. In addition, guide videos with both Korean and English subtitles are provided in the app. This is in order to help users easily create Kpop videos. Furthermore, users can create their own guide videos and make others cover them. It is now available in +121 countries. Therefore over 90% of users are based outside Korea.
Furthermore, they can rise to in-app fame by doing well in “battles”. These battles are where other users have to choose between two videos on a split-screen display and “swipe right” to vote for their favorite. This helps their favorite influencers boost in the leaderboard ranking. In addition, Amazer was selected as ‘The Indie App of 2017’ by Google Play and ‘Promising Startup of 2018’ by Google Korea and eight Korean startup support institutions.
Collaboration with Kpop Artists
Amazer has stepped up by collaborating with various Kpop artists including MOMOLAND, Monsta X, Dreamcatcher, Dia, etc and to promote their new albums globally. Therefore Kpop lovers can shoot their cover dance video just by mirroring the guided video generated by each idol member. 9 out of 10 Amazer users are teens overseas. These countries include the U.S., Canada, Germany, and South East Asian countries like Thailand, Philippine and Vietnam.
“Since Kpop group BTS recently made a breakthrough in the US mainstream market. Kpop has been widely adopted by global young generation. Amazer has initially gained its organic traction from them. Thousands of Kpop dance crew team has joined Amazer to create their quality video to collaborate or compete with other Kpop fans” said Dongsuk Kim, Head of BTC investment, an investment arm of Cryptocurrency exchange Bithumb.
Use of Funding
The Series A funding will be used to expand its user base. As well as scale their new business model throughout SEA regions.
In 2016, the company closed a US$0.6M seed funding round from GS Home Shopping and KTB Network and has since continued to grow its K-pop community.
“Amazer is a global community where Kpop fans can express their talent and connect each other around Kpop culture. We will lead the way of promoting new Kpop artists and K-products in fashion and beauty to global young generation” said Tensz Lee, CEO/Co-founder of Amazer.