McKinley Rice (CEO Kim Jung-woo, service name "Redrop") announced on the 20th that it has secured 12.5 billion won in Series A funding. Korea Investment Partners led the round, with new investors KB Investment, Kiwoom Investment, and KDB Capital participating. Existing investors Daekyo Investment and DS&Partners also made follow-on investments, bringing the total investment, including the 2023 seed round, to 17.5 billion won.
Founded in 2018, McKinley Rice entered the Indian market with the goal of addressing the global labor imbalance. It operates a cross-border HR platform that matches high-caliber IT talent with Korean and US companies. Leading the largest global talent recruitment market in Korea, McKinley Rice was selected as the exclusive partner for the Ministry of SMEs and Startups' overseas software developer recruitment program this year.
This investment will be used to narrow the technology gap in the global AI ecosystem and build a technology infrastructure ecosystem centered on emerging markets. McKinley Rice plans to expand its global AI talent and data network, enhance its AI training data infrastructure, and develop Localized Large Language Models (LLMs) for developing countries. This will increase accessibility to AI resources and foster its growth as a borderless global infrastructure hub.
A representative from Korea Investment Partners stated, “We expect Redrop to grow into a key infrastructure for the global AI ecosystem by connecting talent and technology,” adding, “We decided to invest after highly evaluating its expansion strategy and execution capabilities centered on emerging markets.”
CEO Kim Jeong-woo said, “The advancement of AI technology is determined by the quality of talent and data,” and added, “McKinley Rice plans to connect global AI infrastructure, bridge the technology gap between developed and developing countries, and lead the establishment of an Asia-centered global AI ecosystem.”
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