SINGAPORE – Singapore-based beauty and lifestyle media firm Clozette has raised US$10 million (S$13.5 million) in Series C funding from Cool Japan Fund, a public-private fund under Japan’s Ministry of Economy, Trade and Industry.
The investment will be used to scale the company’s data-driven content and analytics platform, expand its presence in new markets starting with Thailand, and develop an interactive Cool Japan Ecosystem, Clozette said.
The interactive Cool Japan Ecosystem, scheduled to launch in June 2019, will help to promote Japanese fashion, beauty, food, travel and lifestyle to consumers worldwide.
Founded in 2010, Clozette is a women-focused social content network that curates user-generated content managed by a team of over 90 employees operating in South-east Asia and Japan. The company said it now has more than 3,500 creators, with a collective social reach exceeding 600 million people.
“Content is king – consumers today are blocking ads, but consuming content at unprecedented rates on their platform of choice. In the same breath, they demand more authenticity, interactivity and mobility in their experience.
“Marketers must embrace this pivotal shift in media consumption behaviours in order to keep up with generational shifts in perception,” said Clozette’s CEO, Roger Yuen.
The company has worked with over 300 brands and media agencies, including Estee Lauder, Zalora, Charles & Keith, Procter & Gamble and Unilever, among others.
Clozette previously raised US$3 million in Series B funding from Walden International and Phillip Private Equity in 2013, and US$1.5 million in Series A funding from Walden International in 2011.