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South Korean Marketing Tech Firm AB180 Secures KRW 12 Billion in Series B Funding

2023-08-10 2 min read

South Korean Marketing Tech Firm AB180 Secures KRW 12 Billion in Series B Funding

Reading Time: 2 minutes

AB180, a marketing technology company based in South Korea, has successfully raised KRW 12 billion in Series B funding. The funding round was spearheaded by Storm Ventures, a venture capital firm headquartered in Silicon Valley. Additional investment came from KB Investment and SL Investment, while existing investor Kolon Investment also participated.

Established in 2015, AB180 specializes in marketing technology, aiding businesses in optimizing their marketing strategies through data-driven decision-making. The company’s flagship offering, AirBridge, is an all-encompassing solution that meticulously gauges and assesses user behavior and the impact of advertisements across mobile applications and websites. Moreover, AB180 extends its services to enterprise clients through its product analysis tool, Amplitude, and its marketing automation solution, Blaze.

AB180 has successfully catered to a diverse clientele, including GS Home Shopping, SC First Bank, SK Telecom, Burger King, Kakao Style, Queenit, and Toss. Its innovative solutions have contributed to substantial sales growth across various sectors, such as food, commerce, and finance. This success has translated into remarkable annual recurring revenue (ARR) growth, surpassing 200% year-on-year by the close of 2022.

The influx of new investment will propel AB180’s international expansion and customer acquisition endeavors. The company intends to fortify its technological foundation rooted in data and machine learning, bolster its infrastructure, and refine its service capabilities. Presently, AB180 distributes AirBridge in more than 20 countries, encompassing nations like the United States, Canada, Vietnam, and Malaysia. The platform’s reach encompasses over 54 million devices across 200 countries, analyzing advertising and customer data.

A representative from Storm Ventures expressed, “For our first investment in Korea this year, we selected AB180 due to its immense global growth potential and its unique position as the sole official partner of Google and Meta in Korea and Asia.”

Nam Sung-Pil, the CEO of AB180, commented, “This investment underscores our technological prowess and market appeal within the worldwide digital advertising and marketing landscape. We are committed to steering AB180’s trajectory toward becoming a leading global SaaS company within the adtech industry.”

[Startup News in Korea]

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