# Flex

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/flex-2

- Industry: Software
- Headquarters: Seongnam-si,, South Korea
- Website: www.flex.team
- Total disclosed funding: $41M
- Latest round: Series B (Jan 12, 2022)
- Investors on record: 6

## About

Flex Corp., based in South Korea, specializes in providing advanced human resources solutions through a cutting-edge software platform, enhancing efficiency in management, payroll, and performance evaluations for businesses.Founded in 2019 and headquartered in Seongnam-si, South Korea, Flex Corp. focuses on delivering comprehensive HR services via its innovative platform. The company has successfully completed 2 deals, with the most recent funding round being a Series B in January 2022, where they raised KRW 38 billion led by Greenoaks Capital, alongside DST Global. The total amount raised by Flex Corp. amounts to KRW 38 billion, with a current company valuation of KRW 100 billion. The CEO of the company is Haenam Chang.Flex offers a robust suite of HR services as a software solution that transcends traditional Software as a Service (SaaS) models. The core product is a comprehensive Human Relations Platform designed to streamline various HR functions, including employee management, payroll operations, performance reviews, and finance management. By automating key HR processes, Flex enables organizations to focus on enhancing the value generated by their employees. The platform addresses pain points related to payroll accuracy and financial inefficiencies in companies, primarily targeting small to medium-sized enterprises across diverse industries.Flex generates revenue through a subscription-based model, where clients pay for access to its HR services on a recurring basis. The transaction structure typically involves B2B engagements, allowing businesses to implement Flex's platform to optimize their internal HR processes. Customers subscribe to various pricing tiers that grant them access to different functionalities, including employee management and payroll solutions. Flex’s commitment to solving HR and finance-related inefficiencies supports its revenue generation objectives and positions it for sustained growth in the market.Flex Corp. plans to utilize the KRW 38 billion raised in the Series B funding in January 2022 to expand its product offerings and enhance its platform's capabilities. The company is also looking to enter new markets in Southeast Asia by the end of 2023. This strategic expansion aims to leverage the growing demand for HR solutions in various industries across these regions, further supporting its growth trajectory.

## Funding rounds

- Series B, Jan 12, 2022, $32M — Greenoaks Capital, DST Global
- Series A, Nov 10, 2020, $9M — IMM Investment, Devsisters Ventures, Hanwha Investment & Securities, Klim Ventures

## Investors

- IMM Investment (https://capitalatlas.ai/funds/imm-investment) — Series A
- Devsisters Ventures (https://capitalatlas.ai/funds/devsisters-ventures) — Series A
- Hanwha Investment & Securities (https://capitalatlas.ai/funds/hanwha-investment-securities) — Series A
- Klim Ventures (https://capitalatlas.ai/funds/klim-ventures) — Series A
- Greenoaks Capital (https://capitalatlas.ai/funds/greenoaks-capital) — Series B
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series B