VCNC, the creator of leading mobile couple application Between, announced today the addition of Japan’s Global Brain Corporation and US-based 500 Startups to its list of investors. The two investors join VCNC’s latest venture round, lead by social gaming platform DeNA in February this year. Global Brain’s investment was made through its GB-V Growth Fund Investment Limited Partnership. The investment amount remains undisclosed.
Having raised a total of US$4 million in two earlier funding rounds, including from notable venture capital firm SoftBank Ventures Korea, the latest venture round seeks to establish strong networks in key markets outside of VCNC’s dominated home market in South Korea. The commitment of Japanese investors DeNA and Global Brain Corporation is a result of VCNC’s strong performance in the local market, with VCNC achieving over one million users in just a year since penetrating the Japanese market. Between continues to lead in Japan’s mobile couple application space.
Strong growth for VCNC has seen Between crossing 7.3 million users worldwide. At the same time, VCNC is launching an e-commerce store for users in South Korea. With 60% of users based in South Korea, VCNC is taking the next step in monetising the Between platform. Working with local partners such as 10×10 and Wincube Marketing, Between continues to be a scalable platform to target and engage couples.
Jaeuk Park, co-founder and CEO of VCNC, said, “An e-commerce play is a natural progression for Between in terms of VCNC’s monetisation strategy. Since our early days of partnering brands through our Event Box (advertising), we have seen this demand and believe that this can also be successfully executed in our other markets such as Japan, Taiwan and Southeast Asia.
- December, 20112 – 2 million downloads worldwide.
- January, 2013 – VCNC raises US$3 million Series B funding, launched sticker store with Version 1.4.0 update.
- March, 2013 – VCNC Japan office opens in Tokyo.
- October, 2013 – VCNC expands to Southeast Asia.
- December, 2013 – 5 million global downloads, launched Between 2.0 update.
- February, 2014 – VCNC raises venture round from DeNA for stronger expansion into foreign markets such as Japan.
- May, 2014 – VCNC reaches 1 million downloads in Japan alone. Global Brain Corporation and 500 Startups invests into VCNC. VCNC launched e-commerce store on Between in South Korea.