BUZZVIL BLOG

[Buzzvil News] Korean Lock Screen Advertising Platform, Buzzvil Attracts 11 Million USD Series B Investment

photo: lock screen service portfolios serviced by buzzvil, Buzzscreen

(from left) Honeyscreen, Nexon Play Lock, OCB Lock and BC Card with Top point

 

Buzzvil, the Korean lock screen advertising platform company, announced on December 23rd, 2015 that it closed an 11 million USD Series B round.

Five investors participated in the round, including LB investment, KTB Network, ES investor, Company K Partners and POSCO Capital. It is the first investment since the company closed a 3 million USD Series A from Softbank Ventures in December 2013.

Kyung-In Jung, Vice President at LB investment, said “Buzzvil is the best company to lead the rapidly growing mobile advertising market, with its explosive potential in the platform strategy, which has been proved with lock screen business expertise for years through Honeyscreen and the success of OCB Lock, and its strong SDK patents.”

With the latest investment, Buzzvil plans to expand its lock screen platform business. The company will focus on developing further technology resources, as well as pushing ahead with global expansion through partnerships with local telecoms.

Buzzvil currently has 6 million users across Korea, Japan and Taiwan using its lock screen advertising app Honeyscreen, launched in January 2013. In May 2015, Buzzvil released the BuzzScreen SDK, its white label lock screen advertising platform.

Partners using the BuzzScreen SDK can easily publish ads and content provided by Buzzvil to their users’ lock screens, just like Honeyscreen. Also, by this collaboration, both manage to have a share of advertising profits from the lock screen. Not to mention, buzzvil can expand its user but also revenues. In addition, Partners can increase daily active users (DAU) with high retention rates without additional marketing budget.

OK Cashbag, one of the largest rewards companies in Korea, recorded 500,000 DAU for four months after implementing the BuzzScreen SDK in their OCB Lock service.

Buzzvil CEO Gwanwoo Lee said “BuzzScreen, the platform business by Buzzvil catches the eye of investors.” and he also added that he believes Buzzvil would attract all the first screen users in the world near future through the aggressive white label partnership expansion.

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