Talent-matching platform Kmong attracts USD 2.6M from Altos Ventures

Kmong

Founder: Park Hyun Ho

Founded in: 2011

Financing status: USD 2.6M for Series B (from Altos Ventures)

Founded in 2011, talent-matching platform, Kmong, recently raised KRW 3 billion (USD 2.7 million) worth of investment from Altos Ventures, a silicon-valley venture capital firm that also has an office in Seoul, Korea. Kmong has shown impressive growth. Its cumulative transaction amount exceeded KRW 10 billion last fall, and now the amount again made a record-breaking KRW 20.6 billion in just eight months. The company started from the simple idea of amateurs sharing their talents and skills, such as design and translation, and receiving compensation in return. However, as Kmong has expanded its business model throughout the past six years, it is now known as more of a playing field for all professionals and experts to make use of what they have.

Park Hee Eun, an associate investment analyst in Altos Ventures said, “With the advent of the Fourth Industrial Revolution, the ‘job’ or ‘career’ paradigm is shifting. It is indeed an era of the Gig Economy, where talented individuals, or freelancers, can more freely and flexibly utilize their resources to make a profit. Kmong is a company that leads this trend and facilitates the freelance industry in Korea. That’s why we invested in Kmong with no hesitation.”

CEO of Kmong, Park Hyun Ho said: “Up until 2016, we at Kmong focused on consolidating our status in the talent-matching industry. From now on, we plan to pour efforts into making explosive growth.”

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This article, entitled “Talent-matching platform Kmong attracts USD 2.6M from Altos Ventures”, was written in Korean by Minjung Kim of Platum, edited by AllTechAsia.