South Korean parenting platform Jejememe raises KRW 2 billion for global expansion
Jejememe, a South Korean parenting platform that operates ‘Daybabyday’ growth record app, has raised KRW 2 billion in Series A funding from Hana Ventures.
Jejememe is a parenting platform that uses a child’s media data to create various added value, such as automatically organizing a child’s photos and videos, using them to create emoticons and growth videos, and sharing them with family members in real time. The company has over 200 million photos and videos of children uploaded through Jejememe, making it the largest repository of child photo and video data in Korea. Jejememe plans to expand its services based on this data and become a parenting super-app.
Jejememe has been growing rapidly through word-of-mouth, with one in three babies born in Korea signing up through customer referrals. The company also boasts an average of seven family members invited to use the service through its family sharing feature. Jejememe has accumulated over 550,000 users.
Building on this domestic growth, Jejememe has seen a rapid increase in overseas subscribers. The company began to see an increase in overseas subscribers from overseas Koreans even before the launch of its full-fledged global version, and it plans to officially launch its Japanese version this month.
Kang Hunmo, a managing director at Hana Ventures, who led the investment, said, “The birthrate in Korea has been declining to the point where it has become a social problem, but the size of the kids’ market is growing every year. Jejememe is a powerful service that is used not only by parents but also by family members such as grandparents, aunts, and uncles. We decided to invest quickly after seeing the potential for Jejememe to become a super-app by growing healthily without excessive marketing. We also expect synergy with financial institutions that are targeting both Alpha Generation and seniors.”
In fact, even before this investment, Jejememe is in the process of signing a business agreement with a financial institution for the non-face-to-face account opening of minors. The company is also continuing to collaborate with businesses that need to target various segments in a variety of ways, such as advertising.
Park Mi-young, CEO of Jejememe, said, “Our business model, which includes subscription and advertising models that are rapidly increasing in revenue and the sale of goods using children’s photos, can be immediately realized globally. We will quickly and firmly establish ourselves in the global market based on this.”
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