Hong Kong-based technology start-up PressLogic has raised series A+ funding of US$10 million led by Meitu, China's leading image processing and social sharing platform.
The new funding will be used to expand PressLogic's overseas female lifestyle content and user-generated content (UGC) community in different markets, optimise its self-developed data-driven analytics software, as well as to exploit the e-commerce sector harnessing its own precise traffic and data.
Ryan Cheung, PressLogic's founder and CEO, said the startup will launch its first UGC mobile app “GirlStyle” and website under GirlStyle.com branding in Hong Kong plus five other places including Taiwan, Singapore, India, South Korea and Malaysia by the end of 2018. This user-generated content platform will enable users to post content and comments within the female community.
"PressLogic that we see and experience today has only reflected part of our future businesses. We are very excited with the Series A+ investment as it allows us to expand massively (and) globally and become the largest female lifestyle digital media & community player in Asia Pacific,” said Cheung.
Founded in 2016, PressLogic has risen to become the leading lifestyle digital media for millennials in Hong Kong, amassing almost eight million Facebook and Instagram fans and followers (with or without carrying PressLogic and GirlStyle branding across regions) and over 700 million monthly content impressions on its social media presences and websites.
It has attracted the market's attention and content marketing opportunities. PressLogic aims to build highly effective marketing networks to deliver branded content partners’ messages to their favourable audiences by its data-driven publishing and community management.
In the statement, PressLogic said it will continue to upgrade its core technology -- MediaLens through data collections and content optimisation. MediaLens is a self-developed data-driven analytics software combined with machine learning capabilities for optimising ROI performances in various social media.
It sources popular feeds, news, comments and hot topics from the internet 24/7. By analysing popular topics in each interest community, the system is capable of suggesting specific content that are likely to go viral for a specific interest community. It reinforces itself recursively from the content published, as well as facilitates the creative process to optimise results.
PressLogic revealed that its data-driven analytics system will open to all other social media operators including marketers and influencers to broaden the company's revenue source, assisting them to harness the data insight for better content analysis to improve the overall ROI on contenting. Meanwhile, PressLogic is enhancing the data collections and foster the system learning predictive power on content virality.