Proxima's funding supports Triller's aggressive growth
strategy, which has grown 500 percent in the last year alone,
including the acquisition of UK-based MashTraxx, to unlock video
editing and tracking capabilities for Triller's 60m
users
LOS ANGELES, Oct. 23, 2019 /PRNewswire/ -- Triller, the
AI-powered music video platform, today announced a new round
of funding, led by Proxima Media, and the acquisition of AI
technology. Proxima Media brought in a consortium of well-known
industry veterans to support the funding round, which brings a new
level of support to Triller. The new funds will fuel continued
growth and product enhancements as Triller quickly becomes the
premier destination for music sharing, content creation, and artist
discovery in the music industry, with its sights set on overtaking
competitor TikTok.
Triller has grown 500 percent organically year-over-year, with
13 million active monthly users and 60 million total downloads. The
company's recent acquisition and integration of MashTraxx, a
machine learning platform for music and video editing, with nine
industry-defining patents, will provide Triller users with
next-generation editing tools to create and track powerful,
attention-grabbing, and shareable content. Triller has the
highest engagement of any music social platform in terms of daily
time spent on the application, with its users spending an average
of 20 minutes per day and creators spending over one hour.
"Triller prioritizes creators, allowing them to showcase their
work and connect with their audiences through the universal
language of music," said Mike Lu,
CEO of Triller. "This funding round reflects broad support from
savvy, successful investors that appreciate our relentless focus on
artist discovery and continuous expansion of Triller's
groundbreaking AI technology. Proxima Media's team and expertise
give us access to unparalleled content and IP."
"Triller has grown at an incredible rate in a competitive
market, and has fundamentally expanded opportunities for content
creators to reach new audiences," said Bobby Sarnevesht, partner at
Proxima Media and now executive chairman of Triller. Mr.
Sarnevesht, who has a deep background in technology and music, has
taken operational control of Triller as part of this transaction.
"Now, with the added support of Proxima Media's access to well
known professionally generated content and IP, we are confident
Triller will become the go-to platform for music social sharing,"
he continued.
Triller's music licensing partnerships with top studios,
including Warner Music Group, Sony Music Entertainment, and
Universal, allow users to create content with an extensive catalog
of music and share it across multiple social platforms, without the
need to navigate licensing fees. Triller has been integral in
helping Tyga go 6x Platinum with "Taste," and YG go 2x Platinum
with "Big Bank," fueling the discovery of breakout
artists 10k.Caash and Seth
Vangeldren, and is credited by Lil Nas X as the platform
that helped launch "Old Town Road." The app continues to gain
popularity within the music industry with top artists such
as Chance the Rapper, DaBaby, Halsey, and BTS, who utilize it
for music promotion.
Proxima brought in a number of strategic investors, including
Silicon Valley veteran, Mahi de
Silva, who will also assume the role of Triller's chairman.
As a founder, CEO, leader, board member, advisor,
and investor, de Silva has guided companies from startup to
Unicorn exits totaling over $10
Billion including VeriSign, Sonicwall, AdMarvel, Opera, Slam
Dunk Networks, Noventis, and Looksery.
"Triller has a created a vibrant community bringing together
creators, artists, license holders, labels, and consumers, to
foster and encourage large-scale consumption and monetization, for
all involved parties, of music around the world, unlike competitors
like TikTok," said Mahi de
Silva.
"As a U.S company, Triller is laser-focused on
the protection of our community from the prying eyes of nefarious
parties or political agendas which has been a clear
issue among our competitors."
"Though we recognize that we compete with TikTok for social
video distribution, our biggest differentiator is that we're
committed to working hand-in-hand with the labels, artists, and
creators to promote their work, music, and content and making it
shareable across virtually all social media platforms," continued
Lu. "This latest round of financing, and the partnerships we've
formed with our strategic investors, will enhance our ability to
out-perform competitors and support Triller's continued expansion
in the US and across the globe."
About Triller
Triller is an AI-powered music video app
that allows users to create professional-looking videos in a matter
of seconds. Pick a song, select the portion of the song you want to
use, snap a few takes and with the tap of a button you have a
celebrity-quality music video starring you and your friends.
Triller relies solely on organic growth and has more than
60 million downloads, with celebrities from Kevin Hart to Vanessa
Hudgens regularly using the app to create their own music
videos.
For more information, visit www.triller.co and follow
@trillervids on Instagram.
About Proxima Media
Proxima Media was founded by
legendary Hollywood producer
Ryan Kavanaugh, who together with
his executive team, are been responsible for producing more
than 200 films, which have grossed over $25
billion at the box office. Proxima Media's films
include Immortals, The Fast and the Furious, Girl with the
Dragon Tattoo, Salt, Wanted, Limitless, The Fighter, Mirror Mirror,
Safe Haven, Beyond the Lights, and The Social Network, which
received eight Oscar nominations. Other films include Mamma Mia!,
3:10 to Yuma, Grown Ups, and Dear John. Proxima is owned and
operated by Proxima Media founder, Ryan
Kavanaugh.
They are credited with originating a number of
first-of-their-kind deals that changed the film industry, including
a deal for Marvel Studios, which led to the creation of the Marvel
Cinematic Universe, that has amassed more than $17.5 billion at the box office worldwide. Mr.
Kavanaugh followed-up that success with a first-of-its-kind
television pay deal with Netflix and created what is today known as
the SVOD window for Netflix, which boosted Netflix's market
capitalization to $10 billion USD. He
was also honored with a 'Hollywood Producer of the Year' award and
was named by Variety as, "Showman of the Year."
Mr. Kavanaugh's other notable credits include what is now called
Independent Sports & Entertainment, an integrated sports,
media, entertainment, and management company that represents 300 of
the best athletes in the NBA, NFL, and MLB, and is the
second-largest integrated management company in the U.S. with
approximately $2.5 billion in player
contracts. He also created the powerhouse television company, now
called Critical Content, which produced hit shows such as
MTV'sCatfish, Limitless, and over 40 other television series.
Kavanaugh also was a co-founder of PreCash, later renamed
Noventis Payments, a first-of-its-kind technology Fintech platform,
which sold earlier this year for over $300
Million. and He was also an investor in numerous successful
unicorns, including Juno (originally Zeta-Rx,founded by
Jack Kavanaugh), the largest biotech
IPO in 2014, which later sold for north of $10 Billion.
Contact
BAM Communications
triller@bamcommunications.biz
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SOURCE Triller