# SOCAR

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

- Industry: Software
- Headquarters: Jeju, South Korea
- Website: http://www.socar.kr
- Total disclosed funding: $197M
- Latest round: Series F (Oct 20, 2020)
- Investors on record: 10

## About

Based in South Korea, SOCAR, Inc. operates as a leading car-sharing service provider, enabling users to access a diverse fleet of vehicles on-demand via a mobile platform, enhancing urban transportation options.SOCAR, Inc. is a car-sharing service that allows users to rent vehicles conveniently. Founded in 2011, the company is headquartered in Jeju, South Korea. In August 2023, IMM Private Equity exited 3.7% of its 7.4% stake in SOCAR for KRW 54.7 billion. The company has engaged in a total of 13 deals and has raised a total of KRW 132,100.00 mn, with its latest funding round being an IPO that raised KRW 101,920.00 mn. The current CEO is Jaeuk Park, who, along with Jungwoong Moon, leads the company.SOCAR's primary offering is a car-sharing service that enables users to access a diverse fleet of vehicles on-demand through a mobile application. This service caters to various needs, allowing rentals for as little as 10 minutes. With over 50 types of vehicles available, SOCAR serves urban markets in South Korea by providing designated parking areas known as SOCAR zones for convenient pick-up and drop-off.In 2024, SOCAR reported a revenue of KRW 316,774,901,624.6, with an EBITDA of KRW -7,114,203,215.7. The company generates revenue primarily through its pay-per-use car-sharing model, charging users based on the duration of vehicle rentals through its mobile app.SOCAR plans to enhance its service offerings by launching new products designed for broader user engagement in urban transportation. The company aims to expand into additional South Korean cities by the end of 2025, leveraging funding from its recent IPO to support these initiatives. The latest deal in August 2023, where IMM Private Equity sold part of its stake, reflects ongoing strategic movements to optimize capital structure for growth.

## Funding rounds

- Series F, Oct 20, 2020, $53M — Seoul Private Equity, SG Private Equity
- Series E, Feb 5, 2020, $43M — LB Investment, SBVA
- Series D, Apr 18, 2019, $44M — Altos Ventures, KB Investment, SBVA, Stonebridge Ventures
- Series C, Apr 26, 2018, $56M — IMM Private Equity
- Seed, Jul 1, 2013, $1.3M — Collaborative Fund, Sopoong Ventures

## Investors

- Collaborative Fund (https://capitalatlas.ai/funds/collaborative-fund) — Seed
- Sopoong Ventures (https://capitalatlas.ai/funds/sopoong-ventures) — Seed
- IMM Private Equity (https://capitalatlas.ai/funds/imm-private-equity) — Series C
- Altos Ventures (https://capitalatlas.ai/funds/altos-ventures) — Series D
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series D
- SBVA (https://capitalatlas.ai/funds/sbva) — Series D, Series E
- Stonebridge Ventures — Series D
- LB Investment (https://capitalatlas.ai/funds/lb-investment) — Series E
- Seoul Private Equity (https://capitalatlas.ai/funds/seoul-private-equity) — Series F
- SG Private Equity (https://capitalatlas.ai/funds/sg-private-equity) — Series F