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Kuala Lumpur, January 8, 2024 – Cult Creative, a Malaysian creator economy company bridging the gap between nano and micro creators, proudly announces RM500,000 in seed funding from The Hive Southeast Asia. This significant investment follows a period of strategic evolution, including overcoming the challenges of the untimely passing of their co-founder Manisha Jaganmongan in March 2023.
Cult Creative now propels ahead with a visionary new business model focused on revolutionizing the creator collaboration landscape within the dynamic realm of digital marketing.
Revolutionizing Creator Marketing: The New Paradigm
Cult Creative eliminates cumbersome contract negotiations and e-invoicing for creators and enables them to maximize content output and earnings, while brands can quickly connect with the right partners for their campaigns and track performance at scale. Activating bespoke concepts for B2C and B2B brands, Cult Creative manages the end-to-end creative process for brands from idea generation to production and optimization.
The new funding will allow Cult Creative to develop a proprietary platform fueled by cutting-edge technology, data-driven algorithms, and a vibrant community. With Cult Creative, the future of creator marketing is tech-enabled, measurable, and virtually instant.
Cult Creative’s Competitive Advantage:
- Brand Loyalty and Creator-Centric Approach: Cult Creative’s competitive edge is underlined by a commitment to strong brand loyalty and a creator-centric ethos. The platform ensures transparent brand briefs, project timelines, and reliable payments through structured agreements, guaranteeing timely compensation and protection for creators.
- Visionary Growth: Cult Creative aspires to be Southeast Asia’s foremost trusted platform for creators, with plans to introduce alternate credit scoring through CultPay. This forward-looking approach solidifies its leadership role in the industry.
- Validation of Model: Over the past 12 months, Cult has validated its creator model with over RM280,000 in processed payments to 620 creators and 52 brand deals from Pavilion Group, Farm Fresh, Hotel Indigo by IHG and other SMEs across Malaysia, Indonesia, and Singapore, showcasing a remarkable 4.5x year-on-year revenue growth.
- Community Building: Extensive community-building initiatives empower nano and micro creators, amplifying the platform’s reach and effectiveness. This ensures a perfect match for every brand, whether in the B2C or B2B sector.
- Founder Expertise: With founders boasting creative backgrounds, Cult Creative possesses a unique advantage. Their deep understanding of creative briefs allows for quality video output and brand community retention.
Quotes:
“We are thrilled about the future of Cult Creative, and profoundly grateful for the support from The Hive Southeast Asia. We built Cult Creative to help brands authentically connect with creators, and we’re excited to deploy our seed funding to launch our proprietary platform and alleviate challenges in the creator economy. Ultimately, we aim to channel our expertise in the creator marketing space to foster a community in which brands and creators can thrive and maximize the effectiveness, scale, and impact of their partnerships.”
(Shermaine Wong, Co-Founder & CEO, Cult Creative)
“We’ve been monitoring Cult Creative for the past two years, and during this time, the team has consistently demonstrated remarkable resilience and adaptability. The company’s journey reflects a strong commitment to significantly influencing the burgeoning creator economy. Moreover, their impact extends beyond business metrics, contributing to social impact and job creation which is in line with the objective of the mandate that we have been given under Penjana Kapital’s Dana Penjana Nasional Program. As they strive to make marketing for creators more efficient, measurable and influential, Cult Creative is emerging as a positive force in Southeast Asia. Their dedication to supporting creators and brands, coupled with their readiness to navigate the rapidly evolving media landscape, marks them as an exceptional and forward-thinking entity.”
(Dato Syed Haizam Jamalullail, Managing Partner of The Hive Southeast Asia)
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About Cult Creative
Cult Creative is a regional creator economy company that bridges brands and creators to connect, collaborate, build your network, and earn revenue. Using data technology, Cult Creative aids brands in discovering fitting creators, streamlining workflows, and facilitating creator payments. To keep up with the latest news from Cult Creative, visit https://www.cultcreative.asia/ and check out the socials on Instagram, Facebook, and LinkedIn.
About The Hive Southeast Asia
The Hive Southeast Asia is an early-stage venture capital fund that is under Penjana Kapital. It is a collaboration between The Hive US, Tuas Capital Partners and the Sunway Group. With its roots in Palo Alto, California, the fund has since expanded its operations to Malaysia, Brazil, India, and Europe. The Hive Southeast Asia utilizes its extensive entrepreneurial and operational expertise to expedite the growth of companies. It focuses on harnessing the power of data, artificial intelligence, blockchain, and other deep technologies to foster disruption and explore new market avenues. Among its investments are startups such as iMotorbike, ThoughtFull, Payd, Senang, Halogen, Ejen2U, and several more.
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