Startup accelerator New Paradigm Investment (Co-CEOs Bae Sang-seung and Park Jae-hyun) announced on the 27th that it has made a seed investment in First Jang Company (CEO Jang Won-bong), a startup operating the online funeral platform "First Jang." The investment amount was undisclosed.
New Paradigm Investment explained that this investment was made in response to the growing demand for funerals due to the aging population and the digital transformation of funeral culture.
First Jang Company operates a platform that provides integrated funeral and burial services, including burial site search, comparison, and transaction, as well as columbarium transfer, burial site subscriptions, and ESG-based, eco-friendly funeral options. Users can search for burial sites based on region, budget, and facility requirements, check actual transaction prices, facility photos, and locations, and then conclude a contract through a secure payment system.
Currently, the platform is building its initial market centered around a funeral comparison consulting service, and is generating revenue from additional services such as sending obituary notices.
Founded in 2023 after winning the Kyowon Group's in-house venture competition, Cheotjang Company officially launched its "Cheotjang" service in October of the same year and achieved profitability in November, following its spin-off. The company stated that it achieved early monetization based on real-world transaction data secured during the beta service period.
With this investment, First Jang Company plans to focus on expanding its funeral home and burial site database, enhancing its platform, improving functionality, and securing development talent. The company is also exploring overseas expansion, focusing on the Asian market.
New Paradigm Investment plans to execute a total of 8 billion won in new and follow-up investments this year and aims to foster more than 20 baby unicorn companies by 2027. Currently, it has been selected as a general manager (GP) for the small-scale startup sector in the "2025 Mother Fund 1st Regular Subscription Project," expanding its support for early-stage startups.
Meanwhile, New Paradigm is recruiting startups in the 4th industrial revolution sector, including ICT, commerce, silver tech, and digital healthcare, for its "Baby Unicorn Growth Program" until October 31st.
- See more related articles
You must be logged in to post a comment.