SINGAPORE, April 6, 2022 /PRNewswire/ — The Parentinc, a fast-growing tech company headquartered in Singapore, today announces that it has successfully closed a US$22M round. The round comprised a mixture of primary and secondary investment alongside venture debt.
The funding round was led by East Ventures as well as other undisclosed investors. New investor Central Retail Corporation and existing investor WHG Holdings also participated in the round. The venture debt funding was provided by DBS, and is the second such venture debt financing obtained from the bank.
The Parentinc is the unrivalled leader in Southeast Asia focused on building holistic content, community, and commerce solutions for pregnant women and young mothers. The company’s flagship brand, theAsianparent, is the region’s largest and most successful community platform for parents; while its award-winning direct to consumer brand, Mama’s Choice, manufactures and retails safe, natural, and Halal pregnancy, nursing, baby care, and household products that are designed and tested in Singapore for families in Asia.
Hot on the heels of announcing LINE SEA Corp as a new shareholder, The Parentinc’s Group CEO and Founder, Roshni Mahtani Cheung, expresses her enthusiasm to welcome East Ventures to her company’s roster of investors.
Mahtani Cheung says, "East Ventures is one of the most prominent venture capitals in Southeast Asia. I have always been an avid fan of their team, their philosophy of running businesses, and their depth and breadth of knowledge. Working with the EV team has been an absolute joy and I am stoked to have Willson Cuaca, Co-Founder and Managing Partner of East Ventures, join our board. With EV’s expertise and pristine track record in creating unicorns across Asia, we look forward to simulating their successes and deepening our presence in Indonesia and across the region. I could not have chosen a better partner to grow The Parentinc business with."
According to Mahtani Cheung, the investment deal between East Ventures and The Parentinc will pave the way towards the expansion of theAsianparent and Mama’s Choice into additional markets in Asia Pacific and beyond.
"With this new round of investment, our plan is to further expand both our parenting community, theAsianparent, and our direct-to-consumer brand, Mama’s Choice, into three additional markets before the end of 2022," she adds.
Willson Cuaca, Co-Founder and Managing Partner of East Ventures, says, "We are impressed by The Parentinc’s incredible growth and successful transition from blog to becoming the unparalleled market leader across Southeast Asia in the parenting content, community, and commerce space. We truly love the vision of the company, and we are confident that the calibre of talent at The Parentinc will propel this company onwards and upwards."
About The Parentinc (also known as Tickled Media Pte. Ltd.)
The Parentinc is one of Asia’s fastest-growing tech companies headquartered in Singapore. Its flagship brand, theAsianparent, is Southeast Asia’s largest content and community platform for parents, with a reach of over 35 million users monthly and an app store rating of 4.9 stars (Download the app here). The Parentinc also owns and operates direct to consumer brand Mama’s Choice, which manufactures and retails safe, natural, and Halal pregnancy, nursing, baby care, and household products that are designed and tested in Singapore for families in Asia (Shop here).
The Parentinc investors include: Central Retail Corporation, East Ventures, Fosun International, Global Grand Leisure, JD.com, LINE SEA Corp., Mirae Asset-Naver New Growth Fund, Redbadge Pacific, SCB 10X, Tigris Capital, Vertex Ventures, and WHG Holdings.
About East Ventures
East Ventures is a pioneering and leading sector-agnostic venture capital firm headquartered in Singapore. Founded in 2009, East Ventures has transformed into a holistic platform that provides multi-stage investment, including Seed and Growth for over 200 companies in Southeast Asia.
An early believer in the startup ecosystem in Indonesia, East Ventures is the first investor of Indonesia’s unicorn companies, namely Tokopedia and Traveloka. Other notable companies in the portfolio include Ruangguru, SIRCLO, Kudo (acquired by Grab), Loket (acquired by Gojek), Tech in Asia, Xendit, IDN Media, MokaPOS (acquired by Gojek), ShopBack, KoinWorks, Waresix, and Sociolla.
East Ventures was named the most consistent top performing VC fund globally by Preqin, and the most active investor in SEA and Indonesia by various media.