Covid is rarely seen as the missing ingredient for anything. But in the case of the Philippines, the pandemic served as an accelerant to advance the country’s nascent startup system with growth it had never seen before.
That was most visible when Kumu, a social and streaming service, raised a Series C investment in October 2021 led by blue chip firm General Atlantic, the New York fund that counts Slack, Snap and Uber among its best investments. Early ByteDance backer Susquehanna International Group (SIG) is also an investor—in what is only its second deal in the country.
The Philippines’ rising is symbolised by Kumu’s breakout past two years, as The Ken has written written The Ken Not content with just content, Kumu eyes new growth engines Read more , during which time it raised over US$100 million.