All Bio-HealthCare community Funding Startup News in Korea (Korean Startup News)

INTEGRATION Secures KRW 23.1 Billion in Series C to Expand Medtech Innovation

2024-04-02 2 min read


INTEGRATION Secures KRW 23.1 Billion in Series C to Expand Medtech Innovation

Reading Time: 2 minutes

The Korean medtech startup INTEGRATION has successfully secured KRW 23.1 billion in a Series C funding round. This investment was contributed by a mix of participants, including the Korea Development Bank (KDB), IBX Partners, TBT Partners, KOREA INVESTMENT & SECURITIES, SJ Investment Partners, and DS INVESTMENT PARTNERS. Notably, IBX Partners and TBT Partners are returning investors from the Series B round. This latest funding boosts INTEGRATION’s total investment to KRW 39.4 billion.

INTEGRATION is a pioneering medtech startup that manages various medical community platforms. Its portfolio includes ‘Medistream’ for Korean medicine practitioners, ‘Moreden‘ for dentists, and ‘Cheestalk’ for dental hygienists, all launched in 2019. Following the acquisition of Moreden’s operating company, DENEER, in 2021, INTEGRATION introduced ‘Chicruiting,’ a specialized dental recruitment platform, in February.

The startup delivers comprehensive solutions to medical professionals, enabling them to concentrate solely on patient care. These services range from community engagement and educational platforms, both online and offline, to e-commerce and management metrics software as a service (SaaS), alongside R&D-driven branding. INTEGRATION is now focused on refining its value chain with cutting-edge IT and biotech.

This strategic approach has significantly expanded its subscriber base and revenue. According to INTEGRATION, Medistream has attracted 78% of all Korean traditional medicine doctors and students within just five years of its launch. Similarly, Moreden and Cheestalk have become the go-to platforms for over 53% and 47% of the dental and dental hygiene communities, respectively. Last year, INTEGRATION doubled its annual revenue for the second consecutive year, reaching KRW 26.1 billion.

With the fresh influx of capital, INTEGRATION is set to further refine the customer experience across its existing services, venture into the B2C market, and develop a new e-commerce platform specifically for dental clinics. The company is actively expanding its team, hiring across the board in fields like medical device sales, brand marketing, and software development.

Hee-beom Jung, CEO of INTEGRATION, shared, “In the five years since our inception, we’ve rapidly expanded our operations across content, commerce, SaaS, and branding. Our goal now is to broaden our business horizons with an emphasis on speed and expertise, ultimately contributing to better health for people and more efficient distribution of medical resources.”

Eun-ui Song, Co-CEO, added, “As our support base grows, we are motivated to innovate the future of dental platforms, always aiming to benefit the dental community and patients alike. By focusing on infrastructure that supports medical professionals in their care delivery and recruiting top talent, we aim to elevate our management standards and make a significant impact on public health.”

[Korean bioHealth Startups News]

스타트업 투자의 숨은 말 '다코스'
Leave a comment

댓글 남기기