Ho Chi Minh City-based Vietcetera, a digital media network originally created for millennials and Gen Z, will expand its target demographic after raising $ 2.7 million in pre-Series A funding. Capital was raised in two rounds this year, led by media-focused venture firm North Base Media.
Other investors included Go-Ventures, Gojek’s corporate risk arm; East Ventures; Summit Media; Genesia Ventures; Hustle Fund; and Z Venture Capital, the corporate venture arm of Z Holdings, which is owned by SoftBank Group and Naver Corporation.
Vietcetera was founded in 2016 by Hao Tran and Guy Truong and now claims an audience of 20 million users per month. Its advertisers include AIA Life Insurance, Google, Facebook, Nestle, MasterCard, Vingroup, and Tiki. Tran told TechCrunch that Vietcetera will also monetize by “prioritizing licensing and original content development.”
The network was first created for millennials and Gen Z audiences who wanted “content that went beyond show business, tabloid news, and entertainment.” To serve more groups of readers, Vietcetera will launch new vertical brands in 2022 focused on female content, real estate and personal finance.
North Base Media was founded in 2013 by Marcus Brauchli, former senior editor of the Wall Street Journal and the Washington Post, and the CEO of the Media Development Loan Fund, Saša Vučinič, to support digital media startups in markets where penetration mobile internet is growing. His other portfolio companies include The News Lens, Atlas Obscura, Rappler, and Majarra.
Vietcetera’s new funds will be used for content, including new shows and podcasts, mobile app development, franchise and content licenses, and potential acquisitions.
