What is Soomgo?
Soomgo operates as a comprehensive digital marketplace designed to facilitate connections between users and skilled professionals. The platform addresses a wide array of needs, ranging from home maintenance and office support to specialized local services. By streamlining the discovery and hiring process, Soomgo has established itself as a critical utility in the Korean gig economy, providing a scalable solution for both independent contractors and businesses seeking reliable service fulfillment.
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 Y Combinator, ID Ventures, and Strong Ventures
Series B (2019): $12.5M led by Y Combinator, Tbt, and Strong Ventures
Series C (2021): $28.6M supported by Korea Development Bank, Atinum Investment, TBT, Lakewood Partners, IBX Partners, IMM Investment, Strong Ventures, and We Ventures
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 with a primary focus on backing founders from Korea.
TBT Partners
TBT Partners is a venture capital firm that invests in startups with big dreams, providing both financial support and practical operational expertise to ensure global scalability.
Atinum Investment
Atinum Investment is a principal investment firm specializing in information technology, biotechnology, and fourth industrial revolution sectors, providing growth capital from startup to emerging stages.
What's next for Soomgo?
With the successful completion of its latest funding cycle, Soomgo is well-positioned to accelerate its operational expansion and technological integration. The company is expected to focus on enhancing its algorithmic matching capabilities to improve user experience and service quality. Furthermore, the strategic backing from institutional investors suggests a long-term commitment to scaling the platform's reach, potentially exploring new vertical markets or regional expansion. As the service sector continues to digitize, Soomgo's ability to maintain its competitive edge will depend on its capacity to innovate within the crowded marketplace landscape while maintaining high standards of service reliability.
See full Soomgo company page
