TikTok rival Triller raises $28m and celebrates record-breaking growth

Ben Heathcote

In App Deals. October 24, 2019

Triller, the artificial intelligence-powered music video platform, has secured a $28 million Series B investment as it hopes to overtake its China-based competitor TikTok.

The investment was led by Proxima Media, who brought in a consortium of industry veterans to support the round, including Silicon Valley veteran Mahi de Silva, who will take up the role of Triller’s chairman. The funding round values the four-year-old startup at $130 million, according to sources.

The cash injection comes alongside an announcement that Triller has grown 500% organically year-over-year, and now boasts 13 million active monthly users and 60 million total downloads. CEO Mike Lu said the financing, and the partnerships formed with strategic investors, will enhance the company’s ability to “out-perform competitors” and supports its expansion in the US and across the world.

“Triller prioritizes creators, allowing them to showcase their work and connect with their audiences through the universal language of music,” added Lu.

“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.”

In a press release revealing the funding round, Triller also hailed its recent purchase and integration of MashTraxx, a machine learning platform for music and video editing. It said the platform will provide users with next-generation editing tools to create and track powerful, attention-grabbing and shareable content.