All Funding Startup News in Korea (Korean Startup News)

MyIB Secures Second Seed Investment from Bigbang Angels to Advance ‘Give & Match’ Platform

2024-05-30 2 min read

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MyIB Secures Second Seed Investment from Bigbang Angels to Advance ‘Give & Match’ Platform

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Korean startup MyIB, which implements corporate matching gift programs, has secured its second seed investment from Bigbang Angels. A matching gift program allows companies to match the donations or volunteer hours of their employees, effectively doubling the impact. MyIB provides this service to businesses through its online software platform, ‘Give & Match.’

Matching gift programs are ESG or HR initiatives used by many North American companies, including Google, Microsoft, and Apple. Companies adopting these programs can enhance their ESG management, particularly in social contribution aspects. Traditional corporate philanthropy often benefits a limited number of recipients, whereas matching gifts empower individual employees to support various nonprofits in partnership with their companies. This increases employee satisfaction, engagement, and sense of belonging. Additionally, nonprofits benefit from the combined contributions, significantly aiding their public-interest activities. Ultimately, matching gifts are sophisticated programs that enhance both corporate and societal sustainability.

MyIB was founded by CEO Younghee Park, a global HR and organizational expert, who identified the lack of matching gift software in Korea. Leveraging his 22 years of HR expertise and experience in researching and implementing matching gift programs while leading HR organizations in Silicon Valley, he founded MyIB last September. Since May 24, MyIB has been conducting field tests of its Minimum Viable Product (MVP) with corporate employees. These tests, set to conclude by June, aim to refine the product before its full launch for corporate clients in the second half of this year.

Bigbang Angels partner Taehyun Kim, who led the investment, explains, “The matching gift platform proposed by MyIB will become an essential service for Korean companies committed to ESG management. We are confident that with the expertise and experience of CEO Younghee Park and the founding team, MyIB will pioneer and lead the matching gift market in Korea.”

Younghee Park, CEO of MyIB, stated, “The name ‘MyIB’ stands for ‘Make Your Impact Bigger,’ clearly reflecting our mission. Through our service, we aim to amplify the positive impact that employees and companies have on society. Although matching gifts are still unfamiliar to many Korean companies, we are confident that our ‘Give & Match’ platform will raise awareness and encourage adoption. Our matching gift platform will be an attractive tool, especially for companies leading in ESG management.”

He added, “We are delighted and honored that Bigbang Angels’ seed investment recognizes the potential and vision of MyIB to create a new market for matching gift platforms in Korea. We will do our utmost to realize our vision of ‘creating a better society together with our members.’”

[ESG 소식 전체보기]


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