NEW ID has raised $705K in a Series B round, with CRIT Ventures providing the capital. The investment marks a notable step for the subsidiary, which was spun out of parent company NEW in August 2019 to focus on digital content and platform ventures.
NEW ID’s mandate is to push NEW’s existing and acquired content into new markets while building out its own digital capabilities. That means partnering with top-tier digital creators and providers in Korea, a crowded but fast-moving space where distribution muscle and content relationships matter as much as the material itself. The fresh funding gives the company more room to pursue those partnerships and expand its footprint.
