AI-powered music video app Triller just completed a $28 million Series B funding round. Triller is aiming to replace the Chinese-based music app, TikTok.
Triller allows users to create and share short music videos using its library music. The press release says the company has grown organically over 500% since last year. The company also claims to have 13 million monthly active users with over 60 total downloads.
The company’s growth and success is owed partly to its acquisition MashTraxx. Creators spend up to an hour a day in the app, while regular users spend up to 20 minutes per day scrolling through content.
With the recent news TikTok and some , Triller is aiming to create a better space for content creators. CEO Mike Lu says the latest funding round reflects broad support for the app that plans to .
“This funding round reflects broad support from savvy, successful investors that appreciate our relentless focus on artist discovery and continuous expansion Triller’s groundbreaking AI technology. Proxima Media’s team and expertise give us access to unparalleled content and IP.”
Triller only had two employees in 2017. Today, the company’s fices have grown to more than 40 people.
One interesting difference between the two apps is licensing partnerships. Triller has all three major labels on board, while TikTok has struggled with that. The press release even takes shots at leveled at TikTok as a Chinese-owned entity.
“As a U.S company, Triller is laser-focused on the protection our community from the prying eyes nefarious parties or political agendas, which has been a clear issue among our competitors.”
U.S. Senator Marco Rubio shares those concerns after he TikTok surpassed one billion downloads worldwide with over 100 million in the U.S. Triller has a long way to go if they’re going to catch up to those growth numbers.