# IGAWorks

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

- Industry: Marketing/Advertising
- Headquarters: Seoul, South Korea
- Website: www.igaworks.com
- Total disclosed funding: $38M
- Latest round: Series E (Mar 31, 2020)
- Investors on record: 11

## About

Based in Seoul, South Korea, IGAWorks Inc. specializes in advanced data analytics solutions, focusing on artificial intelligence-driven insights to enhance consumer understanding and optimize marketing strategies for businesses.Founded in 2006 by Kukseong Ma, IGAWorks Inc. operates from its headquarters in Seoul, South Korea. The company develops data analytics tools that aid businesses in understanding consumer behavior through AI technology. In June 2022, IGAWorks raised KRW 15,800 mn in funding from Korea Investment Private Equity and SG Private Equity, marking its most recent investment round, and has successfully completed 12 deals overall.IGAWORKS specializes in advanced data analytics solutions powered by artificial intelligence, primarily focusing on its core product, Synthetic Consumer Intelligence (SCI). This innovative offering leverages AI to create digital personas based on user behaviors, preferences, and decision-making processes derived from smartphone usage, payment transactions, and advertising interactions. The SCI provides companies with a deeper understanding of consumer behavior, enabling precise targeting, efficient marketing strategies, and enhanced customer satisfaction. In addition to SCI, IGAWORKS offers a suite of services including DFINERY, which combines AI-generated synthetic audiences with actual customer data for refined marketing strategies, and MOBILE INDEX, which analyzes mobile app performance metrics and transaction data. The company serves a diverse client base across various geographical markets, focusing on sectors that require sophisticated consumer insights to navigate rapidly changing markets, including e-commerce and mobile application industries.For the year 2024, IGAWORKS reported a revenue of KRW 88,971,565.30 and an EBITDA of KRW 181,501.50. The company generates revenue through multiple channels, primarily by offering subscription-based services and strategic partnerships with businesses looking to leverage data-driven marketing solutions. Transactions typically involve businesses subscribing to the SCI and DFINERY platforms, where they pay fees based on the level of data analytics access and the scope of services required. Each client engagement may involve tailored agreements that specify the expected outcomes, ranging from increased consumer insights to enhanced marketing effectiveness. The pricing structure for these services is designed to accommodate enterprises of varying sizes, ensuring that both small and large clients can benefit from IGAWORKS' capabilities. With a focus on B2B transactions, the firm supports companies in optimizing their marketing strategies and improving consumer engagement through its advanced analytics tools.IGAWorks Inc. is focused on expanding its product lineup and market reach. The company is currently designing additional features for its Synthetic Consumer Intelligence platform, aiming for a release in late 2024. It is also targeting expansion into new markets in Southeast Asia and North America by the end of 2025. The recent funding of KRW 15,800 mn will be utilized to support product development and facilitate entry into these new markets, enhancing the company's operational capabilities and market presence.

## Funding rounds

- Series E, Mar 31, 2020, $12M — Atinum Investment, Korea Investment Partners, Mirae Asset Securities, KB Securities
- Series D, May 1, 2019, $16M — Atinum Investment, Korea Investment Partners, Quantum Ventures Korea
- Series C, Nov 10, 2015, $0.9M — Korea Omega Investment Corp.
- Series C, Sep 16, 2014, $4.8M — InterVest
- Series B, Jul 10, 2012, $2.6M — Korea Development Bank, Hanwha Investment & Securities
- Series A, May 2, 2008, $2M — SBVA, Premier Partners

## Investors

- SBVA (https://capitalatlas.ai/funds/sbva) — Series A
- Premier Partners (https://capitalatlas.ai/funds/premier-partners) — Series A
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- Hanwha Investment & Securities (https://capitalatlas.ai/funds/hanwha-investment-securities) — Series B
- InterVest (https://capitalatlas.ai/funds/intervest) — Series C
- Korea Omega Investment Corp. (https://capitalatlas.ai/funds/korea-omega-investment-corp) — Series C
- Atinum Investment (https://capitalatlas.ai/funds/atinum-investment) — Series D, Series E
- Korea Investment Partners (https://capitalatlas.ai/funds/korea-investment-partners) — Series D, Series E
- Quantum Ventures Korea (https://capitalatlas.ai/funds/quantum-ventures-korea) — Series D
- Mirae Asset Securities (https://capitalatlas.ai/funds/mirae-asset-securities) — Series E
- KB Securities (https://capitalatlas.ai/funds/kb-securities) — Series E