# Karrot

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

- Industry: Internet
- Headquarters: Seoul, South Korea
- Website: www.daangn.com/
- Total disclosed funding: $194M
- Latest round: Series D (Aug 9, 2021)
- Investors on record: 9

## About

Karrot operates as a localized online marketplace in South Korea, facilitating peer-to-peer transactions for second-hand goods, real estate, and part-time jobs, fostering community engagement and sustainability. Founded in 2015 and headquartered in Seoul, South Korea, Danggeun Market Inc., trading under the name Karrot, specializes in facilitating local transactions through its platform. The founders, Changhoon Jung and Gary Kim, have a history of entrepreneurship, with Robert Kim and Youngchul Jung currently leading the company. The firm has attracted significant investment, with the latest being a KRW 3 billion venture funding from T.S. Investment.

Karrot specializes in a localized online marketplace that facilitates second-hand transactions, real estate listings, used car sales, part-time work opportunities, and community engagement services. Its primary offerings include a user-friendly mobile application that allows users to buy and sell items within their neighborhoods, fostering a sense of community and sustainability through recycling. The platform caters to a diverse clientele, including individual consumers seeking to dispose of unwanted items, homeowners listing properties, and job seekers looking for part-time employment. Released initially in South Korea, Karrot has expanded its reach to other global markets, including Canada, the United States, and the United Kingdom, adapting its offerings to meet specific local needs. 

Karrot generates revenue through a commission-based model, receiving a percentage of transaction values from sales made on its platform. The company also implements partnerships and advertising arrangements with local businesses to promote their services to a targeted audience. Additionally, premium features or subscriptions for enhanced visibility of listings provide diversified revenue streams. For instance, a seller listing a used car can expect to pay a commission fee upon the successful transaction completion, ensuring income from facilitating sales while promoting local commerce.

## Funding rounds

- Series D, Aug 9, 2021, $154M — Altos Ventures, DST Global, SBVA, Capstone Partners, Strong Ventures, Goodwater Capital, Kakao Ventures, Aspex Management, Reverent Partners
- Series C, Sep 21, 2019, $34M — Altos Ventures, SBVA, Capstone Partners, Strong Ventures, Goodwater Capital, Kakao Ventures
- Series B, Apr 24, 2018, $5.3M — SBVA, Strong Ventures, Kakao Ventures
- Series A, Dec 12, 2016, $1.1M — Capstone Partners, Strong Ventures, Kakao Ventures

## Investors

- Capstone Partners (https://capitalatlas.ai/funds/capstone-partners) — Series A, Series C, Series D
- Strong Ventures (https://capitalatlas.ai/funds/strong-ventures) — Series A, Series B, Series C, Series D
- Kakao Ventures (https://capitalatlas.ai/funds/kakao-ventures) — Series A, Series B, Series C, Series D
- SBVA (https://capitalatlas.ai/funds/sbva) — Series B, Series C, Series D
- Altos Ventures (https://capitalatlas.ai/funds/altos-ventures) — Series C, Series D
- Goodwater Capital (https://capitalatlas.ai/funds/goodwater-capital) — Series C, Series D
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series D
- Aspex Management — Series D
- Reverent Partners (https://capitalatlas.ai/funds/reverent-partners) — Series D