Tumblbug, a Seoul, South Korea-based crowdfunding platform for independent creators, raised 1.7bn KRW (just over US$1.5m) in Series A funding.
The round was led by DCM Ventures, Naver and Strong Ventures.
Founded in 2011 by Jaeseung Yum, Tumblbug is a crowdfunding platform for web cartoon, game, publishing, and music industry players with $4.4M funded since 2011.
With the funding, Naver and Tumblbug will form a strategic partnership so that Naver’s creators can raise funds for their work through Tumblbug. The two companies are also working together to provide a crowdfunding service on Naver Musician League, an open platform for musicians and bands. They plan to collaborate on other media content such as video and illustrations.