A Filipino-founded streaming startup called "Kumu" secured funding worth $5 million through the help of the QBO Innovation Hub, a Department of Science and Technology - Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD) assisted network of incubators and hubs.
QBO provides support and resources to the startup community as it seeks to advance, cultivate, and scale up a competitive startup ecosystem in the Philippines.
The funding secured by Kumu would help the start-up grow its business and operations, improve its products and services and expand its market reach. Investors who poured in support to Kumu include Summit Media, Kickstart Ventures, ABS-CBN, Gobi Partners’ Core Philippine Fund, Foxmont Capital Partners, among others.
Launched in 2018 by Roland Ros and Rexy Dorado, Kumu is a livestream and community platform designed for Gen Z and millennial Filipinos around the world.
Aside from monetized live streaming, it allows the users to earn cash by winning different games and engaging in several promotions and campaigns. This year, the startup has successfully partnered with Universal Robina, Globe, Foodpanda, Globe, Summit Media, GCash, and Podcast Network Asia, helping it improve its reach with up to 3 million users from over 55 countries.
With 25,000 livestream broadcasts per day, many content creators are already hooked on the app as they can earn as much as P50,000 per month. Kumu invites all Pinoys to explore the limitless possibilities of building a creative space that is safe and applicable for everyone.
The Kumu app can be downloaded at https://www.kumu.ph/.