Tencent Music Entertainment and Krafton join as strategic investors Teddy Park, founder and executive producer of The Black Label (The Black Label) The Black Label, led by producer Teddy Park, announced Tuesday that it had completed its Series B funding round on May 20.Key investors in the latest round included Tencent Music Entertainment, the China-based operator of music platforms such as QQ Music and Kugou Music, and Krafton, the South Korean game publisher behind PUBG: Battlegrounds.The Series B investment totaled 120 billion won (79.8 million), giving The Black Label a post-investment valuation of 1 trillion won. Existing shareholders, including early investor Saehan Venture Capital, also reportedly participated in the follow-up investment after evaluating the company's long-term growth potential."The Series B investment will serve as a strong foundation for The Black Label to strengthen its capabilities and grow into a comprehensive entertainment company leading the global market," said Jung Kyung-in, CEO of The Black Label.The company attributed its rapid growth to its artist lineup and ability to develop new intellectual property. Under the direction of Teddy — who previously worked on global K-pop acts including Big Bang, 2NE1 and Blackpink — The Black Label is currently home to artists including Rose, Taeyang and Jeon Somi, as well as actors Park Bo-gum and Yim Si-wan.The company also pointed to the launches of girl group Meovv in 2024 and co-ed group AllDay Project in 2025 as evidence of its ability to discover and develop rookie artists.The Black Label further demonstrated its influence in the global music market by overseeing the production of the "KPop Demon Hunters" soundtrack. Its hit track "Golden" gained major international attention after its wins at the Grammy Awards, Academy Awards and Golden Globe Awards earlier this year.The company's financial growth has also accelerated. Revenue rose from 39.3 billion won in 2023 to 42.3 billion won in 2024, before jumping to 73.8 billion won in 2025.The Black Label said it expects strategic synergies with its new investors as it expands globally. Through its partnership with Tencent Music Entertainment, the company plans to strengthen its presence in Asian and global music and concert markets. Collaboration with Krafton is expected to lead to new content businesses spanning music, video and gaming.