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Startup management performance ‘Crysbe’ raises seed funding from Bon Angels

2023-03-13 2 min read

Startup management performance ‘Crysbe’ raises seed funding from Bon Angels

Reading Time: 2 minutes

Crysbe, a South Korea-based provider of business performance management solutions for executives of small and medium-sized enterprises and startups, today announced that it has raised seed funding from Bon Angels Venture Partners. The amount is undisclosed.

Founded in September last year, Crysbe is a subscription software as a service (SaaS) that enables SMB and startup executives to analyze and manage data-driven business performance in real time, just like large enterprises. Unlike large enterprises with expensive enterprise resource planning (ERP) systems, it is difficult for SMEs to effectively manage business performance due to initial investment costs and labor issues. 

When sales exceed 20 billion won, data becomes too large to manage with Excel, and it is too expensive to use an ERP that costs hundreds of millions of won per year. To solve these problems, Crysbe collects and preprocesses company-wide business performance data in real time at a competitive price, and provides key indicator analysis results customized for each customer as a visualization dashboard. This enables executives to manage company performance in real time and make quick decisions.

Crysbe also helps startups reduce business management costs. Consumer goods companies with more than KRW 20 billion in sales typically have more than 100 data sources, and it takes a lot of manpower and time to download, pre-process, and analyze data. By automating these simple repetitive tasks, Crysbe was able to save its first customer more than KRW 5 million in costs and 20 days of business management resources. 

“When I was a COO of a startup, I was uncomfortable with business management, and I created Crysbe to solve that problem,” said Seung Hyuk Cho, CEO of Crysbe. “I could see that there was a need for Crysbe among other SME executives. With this investment, we plan to accelerate the development of the full version that can be fully automated, not just the beta version, and secure a number of customers to solidify the foundation for rapid growth.”

[Startup News in Korea]

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