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Dable, a leading global content discovery platform based in South Korea, announced today that it has raised $12 million in a Series C round, with an estimated value of over $90 million.
This round was led by SV Investment and other new investors KB Investment and K2 Investment Partners, as well as Kakao Ventures, a previous investor who participated in the seed phase. In April 2018, Dable closed a $5.4 million Series B cycle. Since then, the company has raised over $20 million in total, including the latest round of funding. Dable plans to use the new funds to promote its label in Asia and accelerate market growth.
said Dable’s CEO, Chehyun Lee: In this round, we will expand our countries of service so that Dable’s individual recommendations can work in more countries. Dable will strive to become the leading platform for personalized recommendations thanks to its technological edge over the competition.
Joowan Jung, managing director of SV Investment, said we are pleased to lead Dable’s investment in the C Series and impressed with the company’s exceptional adaptation technology to improve media competition. We believe it has the potential to become the leading content discovery platform in the near future and we look forward to watching the company grow.
Dable is creating significant business value through the use of AI-based solutions in media and advertising, said Kijun Kim, partner at Kakao Ventures. It is not surprising that the company is successful not only in Asia but also in international markets. This is a company whose future is long in coming. We are happy to be a part of their journey.
Founded in 2015, Dable recommends high-quality, personalized content for media, e-commerce and other content providers such as blogs and apps. Dable’s engineering team consists of members who developed South Korea’s first product recommendation platform and are well versed in world-class Big Data processing and customization technologies. Dable recommends 5 billion pieces of content to 500 million users per month and generates 100 million clicks per month on the Dable platform.
Dable’s CEO, Chehyun Lee added: Dable’s personalized recommendation solution improves media competitiveness, advertiser performance and user satisfaction. Its superiority has already been proven in several Asian countries.
Dable’s custom content recommendation solution helps drive media sales by increasing item consumption and wait times for website visitors. It helps shorten the process of searching for information and serves a cleaner web by offering only content that is of interest to the user. In addition, through the Dable Native Ad Exchange, advertisers can place RTB ads on premium sites that are Dable partners, as well as on Google, MSN and Cocoa. It also effectively manages advertising by acquiring just the right advertising footprints from a wide range of choices.
Dable currently covers the Asian markets, including South Korea, Japan, Taiwan, Indonesia, Vietnam and Malaysia. It has partnerships with over 2,500 leading media outlets: Korea – MBC, SBS, Chosun Ilbo, Taiwan – ET Today, LTN, Now News, Indonesia – Liputan6, Tempo, Suara, Vietnam – Thanh Niên, Saostar, Bongda, Malaysia – Ripple Media, Nanyang, Malaysiakini.
Dable is now the most widely used custom consulting platform in Vietnam, Indonesia and South Korea. It is also growing rapidly in Taiwan, with more than $0.4 million per month in the two years since launch.
The average annual growth rate of sales has exceeded 50% since the company’s inception. In 2020, revenue was approximately $27.5 million, up 63% from the previous year, due to expansion in the Asian market.
Dable plans to accelerate its international expansion to serve all Asian countries by 2024 and establish itself as a leading content discovery platform. This year it will be launched in six other countries, including Hong Kong, Singapore, Thailand, China, Australia and Turkey. Building on its success in Asia, the company hopes to offer its services in the United States and Europe as well.
About the table
Dable is the first content discovery platform to offer customized content recommendations. Based in South Korea, Dable was founded in 2015 by a high-level local team that developed the first large, data-driven, custom recommendation platform. Its technology has been widely recognized, as evidenced by awards such as the K-Global DB-Stars Grand Prize (2015), Korea Online Advertising Grand Prize (2016), TIPS Award Grand Convention (2017), Ministry of Science and ICT Grand Prize (2019), Ministry of Science and ICT Ministerial Citation (2020). Dable has raised approximately $20 million in 4 consecutive rounds from leading investors. The company provides services in Korea, Japan, Taiwan, Indonesia, Vietnam and Malaysia and works with more than 2,500 leading media outlets worldwide, including MBC, KBS, Ettoday, NOWnews, Liputan6, Suara, Thanhnien, Bongda, Ripple Media and Nanyang Siang Pau.
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