# Openplan

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

- Industry: Insurance
- Headquarters: Seoul, South Korea
- Website: www.openyourplan.com
- Total disclosed funding: $2.4M
- Latest round: Series A (Apr 12, 2022)
- Investors on record: 6

## About

Openplan Inc. is a South Korean company specializing in innovative digital insurance services, offering tailored solutions to meet evolving customer needs within the insurance sector.Founded in 2019 in Seoul, South Korea, Openplan Inc. develops digital insurance solutions aimed at enhancing user experiences. The company has participated in a total of 6 deals, with its most recent deal occurring on April 12, 2022. The latest funding round raised KRW 3 billion through a Series A round, with notable investors including FuturePlay, Plug and Play Ventures, Posco Investment, and T.S. Investment. The company has been growing steadily since its inception, focusing on direct-to-consumer sales and partnerships in the insurance industry.Openyourplan Co., Ltd. specializes in innovative insurance services that transcend traditional boundaries to create greater value for its users. The company’s core offerings include a range of digital insurance solutions that leverage cutting-edge technology and a robust global network, addressing the evolving needs of customers in the insurance sector. These services provide streamlined, efficient, and user-friendly experiences for individual consumers and businesses. Openyourplan targets various end-users, including individuals seeking personalized insurance coverage and corporate clients looking for comprehensive risk management solutions, primarily marketed in South Korea, with aspirations to expand into other regions.Openyourplan's revenue generation model is predicated on direct-to-consumer sales and B2B partnerships. The company engages clients through subscription-based services and tailored insurance packages, facilitating transactions with flexible pricing structures based on individual customer needs. Flagship services include personalized insurance plans delivered on a subscription basis, accessible through various channels for both individuals and businesses. The establishment of strategic partnerships in the insurance landscape enhances Openyourplan's revenue potential while broadening its market reach.Openplan Inc. plans to utilize its recent funding of KRW 3 billion raised in April 2022 to expand its embedded insurance offerings, upgrade its AI technology, and create a user-oriented mobile channel. The company aims to launch new products in the coming fiscal year and target expansion into new markets beyond South Korea, enhancing its global presence in the insurance sector.

## Funding rounds

- Series A, Apr 12, 2022, $2.4M — Plug and Play, Posco Investment, FuturePlay, T.S. Investment
- Seed, Oct 1, 2021 — Korea Tech Incubator for Startup, New Paradigm Investment
- Seed, Nov 6, 2020 — New Paradigm Investment

## Investors

- New Paradigm Investment (https://capitalatlas.ai/funds/new-paradigm-investment) — Seed
- Korea Tech Incubator for Startup — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Series A
- Posco Investment (https://capitalatlas.ai/funds/posco-investment) — Series A
- FuturePlay (https://capitalatlas.ai/funds/futureplay) — Series A
- T.S. Investment (https://capitalatlas.ai/funds/t-s-investment) — Series A