SociaBuzz Pockets New Funding from UMG Idealab

Platform marketplace creative service SocialBuzz announced the acquisition of early stage funding from UMG Idealab. It was not stated further how much the investment value was received. To DailySocial, Co-Founder & CEO Rade Tampubolon said, apart from developing products, the fresh funds will also be used for marketing activities so that more creators and talents can benefit from the various features that SociaBuzz provides.

"In total we have received three funding. Previously SociaBuzz has received funding from angel investors with an unspecified nominal in 2015. SociaBuzz has also received funding from the Ideabox Accelerator program in 2016," said Rade.

There are several reasons why SociaBuzz has launched another fundraiser this year and chose UMG Idealab as investors. One of them is a common vision. In addition, the existing portfolio ecosystem presents useful collaboration opportunities in the future.

"For us at UMG Idealab, this funding is a strategic step that is in line with our goal of increasing collaboration between startups in the UMG Idealab ecosystem so that they can introduce their products to each other and share technology," said UMG Idealab Managing Partner Kiwi Aliwarga.

Stable growth during the pandemic

Operating since 2015, SociaBuzz bridges the business or customer with an influencer social media or creator. The platform aims to create individual or business connections to find the right content creators or talents for business needs. To date, SociaBuzz has around 72 thousand an influencerin-platform creator. They also have 1.350 active users -- both business and consumer.

During the pandemic there were no significant changes in SociaBuzz's business. Rade asserted, for certain features experienced significant growth. The negative impact of the pandemic is more felt on the service managed service influencers marketing that SociaBuzz provides for brand.

During the pandemic, some brand choose to temporarily suspend planned projects. But now it's starting to show brand has started to recover and more confident again to issue a budget.

"The hope is that even though the pandemic presents many challenges, everyone who has passion and creativity can produce more through SociaBuzz features," said Rade.