Korean-based live commerce solutions Mobidoo secures KRW 7 billion Series B bridge funding
Mobidoo, a Korean-based live commerce solutions company, has secured KRW 7 billion in Series B bridge investment. The round was led by new investors Kiwoom Investment and V Platform Investment, with follow-on investments from SBI Investment and Hana Securities. With this investment, Mobidoo’s total funding stands at KRW 17 billion.
Founded in 2013, Mobidoo pivoted to the live commerce business in 2019 and has since grown to over 60 customers, earning a spot on Forbes’ Asia’s 100 Most Promising Companies list. Through its live commerce solution Sauce, Mobidoo provides brands and retailers with a one-stop shop for successful live commerce, from in-house live and short-form solutions to broadcast production and real-time targeted marketing.
Mobidoo plans to use this investment to accelerate its technology development and service capabilities, and become a global live commerce company. Specifically, under the project name “Shoppable 360,” Mobidoo will focus on driving customer acquisition and conversion for its own stores through its shoppable video technology-based solutions:
- Sauce Live: In-house live commerce solution
- Sauce Ads: Real-time live marketing
- Sauce Makers: Live broadcast planning and production service
- Sauce Clip: Commerce-oriented short-form solution
- Sauce Analytics: Full-funnel data analytics service
A spokesperson for Kiwoom Investment said, “Mobidoo’s solution has played an increasingly important role in the growing live commerce market, which is based on live broadcasts and short-form content. We are excited to see the company’s shoppable video solution reach a wider audience through this investment.”
Mobidoo CEO Lee Yoon-hee said, “The era of shoppable video has arrived, where content leads to purchase. Shoppable video will be a key tool for maximizing conversion rates and advertising revenue, and we will strengthen our technology expertise and accelerate our growth to help brands and commerce succeed through our shoppable video technology solutions.”
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