What is Soomgo?
Soomgo operates as a comprehensive platform designed to connect individuals with a diverse range of skills for various job needs across home, work, and office environments within their local neighborhoods. The service aims to streamline the process of finding reliable professionals for tasks, ranging from household chores to specialized office support, thereby fostering a more efficient and connected local economy.
How much funding has Soomgo raised?
Soomgo has raised a total of $44.5M across 3 funding rounds:
Series A
$3.4M
Series B
$12.5M
Series C
$28.6M
Series A (2018): $3.4M with participation from Strong Ventures, ID Ventures, and Y Combinator
Series B (2019): $12.5M led by Y Combinator, Tbt, and Strong Ventures
Series C (2021): $28.6M supported by Strong Ventures, We Ventures, TBT, IBX Partners, Korea Development Bank, Atinum Investment, Lakewood Partners, and IMM Investment
Key Investors in Soomgo
Strong Ventures
Strong Ventures is a generalist venture capital firm located in Los Angeles and Seoul, specializing in supporting early-stage startups. The firm primarily focuses on backing founders from Korea. With a diverse portfolio, Strong Ventures aims to foster innovation and growth in the startup ecosystem. Their services include investment and mentorship for emerging companies.
We Ventures
We Ventures is an investor that has participated in funding rounds for Soomgo. Further details on their investment focus are not readily available.
Korea Development Bank
Korea Development Bank is a wholly state-owned policy development bank in South Korea, founded in 1954 to finance and manage major industrial projects to expedite industrial development and enhance the national economy. As Korea's representative development financing bank, KDB has fostered the growth and heightened the competitiveness of strategic industries by meeting their changing financial needs.
What's next for Soomgo?
The recent major strategic investment in Soomgo signals a pivotal phase for the company, likely indicating a move towards scaling operations, enhancing platform capabilities, and potentially expanding into new markets. This substantial backing suggests a strong investor confidence in Soomgo's business model and its potential for significant future growth. The company is poised to leverage this capital to solidify its market leadership and further innovate its service offerings, aiming to become the go-to platform for skill-based service connections.
See full Soomgo company page
