# Whynot Media

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/whynot-media

- Industry: Media
- Headquarters: Seoul, South Korea
- Website: www.whynot.video
- Total disclosed funding: $42M
- Latest round: Series C (Jul 21, 2022)
- Investors on record: 19

## About

Based in South Korea, Whynot Media specializes in innovative digital solutions that enhance operational efficiency for businesses, particularly through comprehensive enterprise and customer relationship management systems.Whynot Media, founded in 2012 in Seoul, South Korea, focuses on developing advanced digital solutions for businesses. The company has successfully completed six deals, with its most recent deal occurring on July 21, 2022, during a Series C funding round that raised KRW 22 billion from various investors including WYSIWYG Studios and DS Asset Management. The company's founder, Heejun Lim, has a notable history in the digital solutions space, although no prior companies are specified.Whynot Media specializes in creating innovative digital solutions designed to streamline business processes and improve operational efficiency. Their core offerings include a comprehensive enterprise resource planning (ERP) system aimed at mid-sized companies and a suite of customer relationship management (CRM) tools tailored for sectors like retail, manufacturing, and healthcare. These products integrate data across various business functions, allowing organizations to manage workflows effectively and respond to market dynamics with agility. The company focuses its marketing efforts in North America and Europe, targeting industries that demand robust technology solutions.Whynot Media generates revenue through a combination of subscription-based models and direct sales of its software. Clients engage in multi-year contracts that may include annual subscriptions, one-time licensing fees, and maintenance services. This structure provides flexibility for both large and smaller businesses looking to adopt advanced technology without significant upfront investments. Their flagship ERP offering features tiered pricing based on user numbers and additional modules required, further enhanced by partnerships with industry-specific resellers to improve market distribution.Following their recent Series C funding of KRW 22 billion on July 21, 2022, Whynot Media plans to utilize these funds to accelerate the development of new products and expand into new geographic regions. Specific plans include designing a next-generation ERP system and enhancing their CRM tools, with launches expected in the upcoming year. Additionally, the company aims to penetrate additional markets in Asia and Europe by the end of 2023, leveraging their recent funding to support these initiatives.

## Funding rounds

- Series C, Jul 21, 2022, $17M — Shinhan Capital, ValueSystem Investment Management, Korea Venture Investment Corporation, WYSIWYG Studios, HISSTORY Investment Management, DS Asset Management
- Series C, Jun 1, 2022, $16M — Yuanta Securities Korea, KB Investment, Leading Investments & Securities, WOORI Venture Partners, SL Investment, Com2uS, Shinhan Capital, Mirae Asset Venture Investment, Capital One, ValueSystem Investment Management, HANCOM INVESTMENT, F&F Partners, KEYEAST Co., Ltd., DS Asset Management
- Series B, Jul 8, 2019, $8.9M — KB Investment, WOORI Venture Partners, SL Investment, ID Ventures, Guangzhou Huayi Investment

## Investors

- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series B, Series C
- WOORI Venture Partners (https://capitalatlas.ai/funds/woori-venture-partners) — Series B, Series C
- SL Investment (https://capitalatlas.ai/funds/sl-investment) — Series B, Series C
- ID Ventures (https://capitalatlas.ai/funds/id-ventures) — Series B
- Guangzhou Huayi Investment — Series B
- Yuanta Securities Korea (https://capitalatlas.ai/funds/yuanta-securities-korea) — Series C
- Leading Investments & Securities — Series C
- Com2uS — Series C
- Shinhan Capital (https://capitalatlas.ai/funds/shinhan-capital) — Series C
- Mirae Asset Venture Investment (https://capitalatlas.ai/funds/mirae-asset-venture-investment) — Series C
- Capital One (https://capitalatlas.ai/funds/capital-one) — Series C
- ValueSystem Investment Management — Series C
- HANCOM INVESTMENT — Series C
- F&F Partners (https://capitalatlas.ai/funds/f-f-partners) — Series C
- KEYEAST Co., Ltd. — Series C
- DS Asset Management (https://capitalatlas.ai/funds/ds-asset-management) — Series C
- Korea Venture Investment Corporation (https://capitalatlas.ai/funds/korea-venture-investment-corporation) — Series C
- WYSIWYG Studios — Series C
- HISSTORY Investment Management — Series C