Allganize Secures $20M Series B, Eyes 2025 Japan IPO
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Allganize, an Korean all-in-one Large Language Model (LLM) solutions company, has successfully closed a Series B funding round, securing 27 billion KRW (about 20 million USD). The firm sets its sights on a 2025 IPO on the Japanese stock market.
The investment attracted new participants, including InterVest, Murex Partners, SK Telecom, KB Investment, and LG Technology Ventures. Existing backers such as Atinum Investment, Stonebridge Ventures, and FuturePlay also joined the round, bringing the total raised funds to 46.8 billion KRW (35 million USD).
Established in 2017, Allganize operates across three countries—South Korea, the United States, and Japan—and currently serves over 200 enterprises and public entities. The company has forged partnerships with a host of clients including major global financial firms like Hyundai Card and KB Securities, as well as Japan’s SMBC Financial Group, in addition to various telecom, retail, and insurance companies. Capitalizing on robust demand in Japan, Allganize relocated its headquarters there in 2022 and is gearing up for a public listing on the Japanese stock market by 2025.
Leveraging years of accumulated industry-specific AI knowledge management expertise, Allganize provides AI technologies and solutions that enhance operational efficiency. A prime example is their cognitive search solution, ‘Alli Answer,’ which quickly analyzes corporate documents and provides concise summaries, aiding in the revolution of work productivity.
In response to the surging popularity of ChatGPT, Allganize has promptly integrated generative AI technology and expanded its business to include the ‘Alli LLM All-in-One Platform.’ This platform features an array of user-friendly solutions such as an app builder, specialized sLLM (streamlined LLM models), and an app market, facilitating the easy application of LLM in various settings. The ‘Alli LLM App Builder’ enables companies to effortlessly create custom LLM apps with a no-code approach, and Allganize’s tailored ‘Alli sLLM’ can be implemented on-premises.
Especially noteworthy is the company’s focus on proliferating its ‘Alli LLM App Market,’ the only one of its kind in Korea. This enables companies to select from a range of LLM apps tailored to specific job functions in the app market or to create and deploy their own apps using a no-code solution. Working with Allganize allows companies to build their own specialized sLLM and establish an on-premises LLM app market, facilitating the easy creation and utilization of productivity apps that integrate company-specific jargon and acronyms.
With the new capital, Allganize intends to broaden the reach of its LLM app market and accelerate the spread of its enterprise automation AI solutions across South Korea, the U.S., and Japan.
Kang Dong-min, Vice President of MuRex, who spearheaded the Series B investment, remarked, “Allganize’s services, which enhance work productivity through generative AI, have already gained validation for their effectiveness and user-friendliness from global financial firms and large corporations. We anticipate substantial sales growth following this round of funding.”
Shin Young-sung, Director at InterVest and co-leader of the investment, commented, “While multiple hurdles remain in integrating generative AI into enterprise operations, Allganize’s solutions are addressing these challenges and are already delivering tangible benefits to global customers. The prospects are substantial.”
“Allganize’s CEO, Changsu Lee, conveyed, “This investment accelerates our push for global expansion and will help us reach our goal of successfully listing in Japan by 2025. For businesses looking to innovate work productivity, adopting LLM is not just an option, but a necessity. We’re committed to enabling anyone to create specialized LLM apps, apply them practically, and utilize them for automation of their workflows.”
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