BOLD9 Secures Series B Funding for Global Fulfillment Expansion
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The South Korean fulfillment company, BOLD9, has secured SeriesB funding from POSCO CAPITAL, Smilegate Investment, and UTC Investment.
The company stated, “This round of funding is the result of establishing and executing a business strategy as a ‘total fulfillment solution company,’ which has been highly evaluated for growing the company.” Notably, in 2023, despite challenging domestic and international environments, BOLD9 achieved significant outcomes with a 2.2-fold increase in sales and an improvement in profit and loss compared to the previous year.
Aiming for an IPO by 2025, BOLD9 is actively expanding its fulfillment services along with SaaS, international express delivery, FA, and consulting businesses. Particularly, its SaaS, based on the proprietary ‘ezstorage’ solution, is growing by more than 200% monthly.
BOLD9 is expanding its customer base from online distribution companies to logistics businesses by continuously developing logistics service products.
Following the previous round, POSCO CAPITAL, which also participated in this round, stated, “It is rare to find a company in the industry like BOLD9, which simultaneously builds a fulfillment operation and a development team capable of developing a WMS system and conducting a SaaS business.” They added, “Especially last year, despite the difficult market, the significant sales growth and profit and loss improvement led us to decide on follow-up investment.”
The investment will be used for the automation of logistics centers, the expansion of capacity and improvement of accuracy through the optimization of logistics system operations, and the maximization of center operating hours.
Moreover, BOLD9 plans to expand its new business in international express delivery to Japan, the USA, and Southeast Asia, thereby building a logistics network that can serve anywhere in the world. To materialize this, BOLD9’s Paju center has been designated as a specialized center for international express deliveries, and setup is underway.
Yongseok Park, CEO of BOLD9, said, “This Series B funding is a significant achievement that recognizes BOLD9’s technology and growth potential as a total fulfillment solution company.” He added, “Through this investment, BOLD9 will further enhance its competitiveness with aggressive logistics service development and expand its service range to the global market, transforming into a true total fulfillment solution company.”
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