Soomgo, an open marketplace for professional services, succeeded in attracting $3.4 million dollars (approximately 3.6 billion Korean Won) of Series A investment. Early stage venture capital businesses such as ID Ventures, IMM Investment and Devsisters Ventures as well as Y Combinator, Strong Ventures, Primer and Starling Ventures took part in the investment. This puts the total amount of investment fund Soomgo successfully raised at $ 4.7 million dollars (approximately 5 billion Korean Won).
Born out of Y Combinator 2017 Winter which is an American start-up accelerator program, Soomgo was launched 2 years ago as an open marketplace for professional services wherein people can search for professionals in a variety of services such as interior, cleaning, relocation and moving, wedding, business outsourcing and tutoring.
Soomgo announced that it is planning to upgrade its marketing activities and platforms, increase the type of services it provides and further promote services in areas other than the capital region through the investment. In particular, it is currently upgrading services for the professionals.
Soomgo CEO Robin Kim said “the mission of Soomgo is enabling freelancers and small companies to continue to carry out their business and making hidden and unknown professionals in different fields easily accessible to consumers”. Regarding the investment reasons, Director Sung-Hyun Park who was newly appointed as the non-executive director with the recent investment explained that “Soomgo Team has been innovating continuously in order to fulfill its mission across a myriad of professional services.