# UMAG

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

- Industry: Media
- Headquarters: Seoul, South Korea
- Website: www.umag.io
- Total disclosed funding: $4.1M
- Latest round: Series A (May 26, 2022)
- Investors on record: 5

## About

Founded in 2017 and based in South Korea, UMAG operates as a music content company. In May 2022, UMAG raised KRW 5.1 billion in series A funding from ID Ventures, Industrial Bank of Korea, Solaire Partners, and We Venture Partners. As of 2022, the company’s CEO is Hyun Jin Seol.

UMAG offers management and production services for music material in 175 nations worldwide. The company owns music intellectual property rights (IP), allowing customers to obtain the greatest musical experience possible.

The company generates revenue through copyright sales from global music distribution platforms such as Spotify, Apple Music, and YouTube.

The company plans to use the funds raised in May 2022 to improve its digital business sector and expand the scope of its offline industry.

## Funding rounds

- Series A, May 26, 2022, $4.1M — InterVest, ID Ventures, IBK Capital, We Venture Partners, Solaire Partners

## Investors

- InterVest (https://capitalatlas.ai/funds/intervest) — Series A
- ID Ventures (https://capitalatlas.ai/funds/id-ventures) — Series A
- IBK Capital (https://capitalatlas.ai/funds/ibk-capital) — Series A
- We Venture Partners (https://capitalatlas.ai/funds/we-venture-partners) — Series A
- Solaire Partners (https://capitalatlas.ai/funds/solaire-partners) — Series A