Gushcloud raises $11m round led by GDP Ventures

Singapore-based Gushcloud International, a digital talent agency, has raised $11 million in a round led by GDP Ventures for the expansion of its digital celebrity representation business into the US and China, per a recent release.

This is its first round of funding after the Gushcloud cofounders bought back the company from its previous parent, Yello Digital Marketing Global.

South Korea’s KB Investments (KB Financial Holdings), Golden Equator Capital,  Korea Investment Partners (via GEC-KIP Fund), and Kejora Ventures along with other individual investors including American entrepreneur and renowned hip hop mogul, Russell Simmons, participated in the fresh round.

The group also made some movements in its senior management to prepare for an aggressive next phase of growth as it looks to expand into China and US markets.

Gushcloud International is one of the early pioneers in the influencer space, originally launching itself as an influencer and brand matching platform. In 2012, it pivoted to become an influencer marketing agency and further evolved into a digital talent agency group focused on building out sustainable revenue streams for top digital talent, influencers, and content creators in 2017.

Most recently, its founders announced the full buyback of shares from Yello Digital Marketing Group, regaining full control of the company.

“The influencer marketing industry is growing exponentially. Beyond that, we see successful case studies of social commerce brands such as Kylie Cosmetics, Huda Beauty, and Ruhnn having that upside when a digital talent builds a social brand,” said Antonny Liem, Partner of GDP Ventures.

“We chose to invest in Gushcloud International because it is an industry leader with a presence in key markets. We also believe in the power of influence these digital talents hold and are excited to see the potential of other revenue streams coming out of this model,” he added.

Gushcloud International currently operates in 10 countries, namely Singapore, USA, China, Indonesia, Thailand, South Korea, Japan, Philippines, Malaysia, and Vietnam.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.