# AKUODIGITAL

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/akuodigital

- Industry: Software
- Headquarters: Yongin, South Korea
- Website: www.akuo.ai
- Total disclosed funding: $13M
- Latest round: Series B (Aug 10, 2021)
- Investors on record: 8

## About

AKUODIGITAL was founded in 2014 in Yongin, South Korea, and operates as a document-management technology company that uses Optical Character Recognition solutions to digitize documents and improve operational efficiency across multiple industries. The company is led by CEO Yong-seop Kim. AKUODIGITAL has completed 6 deals, with the most recent one occurring on 10 August 2021, raising KRW 13.88 billion in series B funding from investors Capstone Partners, HB Investment, KB Securities, KDB Capital, SB Partners, Hana Securities, and Korea Investment Private Equity, valuing the company at KRW 101 billion post-money. AKUODIGITAL offers a comprehensive suite of document management solutions centered on its AI-OCR technology. Their main product, Mingo, integrates search and retrieval functionalities, enabling users to efficiently manage both paper and digital records. The company's solutions cater to diverse clients, assisting them in creating structured databases and enhancing operational efficiency across sectors such as manufacturing, healthcare, and public institutions, particularly in Asia. For the year 2020, AKUODIGITAL reported a revenue of KRW 3,503,963.2, with an EBITDA of KRW 617,935.7. Their revenue model is based on B2B transactions, focusing on subscription-based access to document management solutions and tailored service packages to meet varied business needs. Following its series B funding of KRW 13.88 billion in August 2021, AKUODIGITAL plans to enter overseas markets, particularly aiming at Japan. The funds will be utilized for ongoing R&D, recruitment of skilled personnel, and the enhancement of its AI technology and business development strategies.

## Funding rounds

- Series B, Aug 10, 2021, $12M — SB Partners, KDB Capital, Capstone Partners, HB Investment, Korea Investment Private Equity, KB Securities, Hana Securities
- Series A, Jan 4, 2017, $1M — Capstone Partners, Coolidge Corner Investment

## Investors

- Capstone Partners (https://capitalatlas.ai/funds/capstone-partners) — Series A, Series B
- Coolidge Corner Investment (https://capitalatlas.ai/funds/coolidge-corner-investment) — Series A
- SB Partners — Series B
- KDB Capital (https://capitalatlas.ai/funds/kdb-capital) — Series B
- HB Investment (https://capitalatlas.ai/funds/hb-investment) — Series B
- Korea Investment Private Equity (https://capitalatlas.ai/funds/korea-investment-private-equity) — Series B
- KB Securities (https://capitalatlas.ai/funds/kb-securities) — Series B
- Hana Securities (https://capitalatlas.ai/funds/hana-securities) — Series B