TheAsianparent has completed a major Series C funding round, led by Fosun and joined by JD.com, ATM Capital, Redbadge Pacific and WHG Holdings.
The latest funding round will be used to expand the brand into new markets outside of South East Asia, including launching in Africa.
The round will also be used to develop its community elements, which it says has already helped it become one of the most downloaded parenting apps in Asia, since it launched on the app stores in 2018. The company originally started as a blog but has since grown out its business to launch other content services that target Asian mums.
Roshni Mahtani, founder and chief executive officer of theAsianparent, said: “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.
"We are delighted to have support from all our investors, among the biggest names in venture investment across the continent. With the funds we have raised, we are looking at expanding into more markets, and will continue to provide a safe space for more women around the world.”
Chinese conglomerate Fosun led the funding round because it says TheAsianparent fits its strategy for building out a portfolio based on meeting the needs of families.
Wang Changying, chairman of Fosun Maternal Infant and Family Group, said: “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.”
The publishing company now has over 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.