Freelancer market platform Kmong raises near $28mn in Series C round

South-Korea based freelancer market platform Kmong Inc. has successfully attracted 31.2 billion won ($27.8 million) in its latest Series C funding, with plans to use the proceeds to build a "human cloud service" that will provide companies with necessary human resources.

Participants of the Series C round included newcomers Company K Partners, Premier Partners and Korea Development Bank alongside previous investors such as Intervest and Mirae Asset Venture Investment. So far, Kmong has accumulated 48 billion won in total funding.

"Kmong has focused on the talent market for a long time and led a paradigm shift in how we work. We decided to invest given the company's strong potential to grow as a leading business platform in the domestic market," said Byun Joon-young, the director at Company K Ventures, which contributed to the recent Series C funding.

Founded in 2012, Kmong is an intermediary platform that connects freelancers with clients. The company has ten main service categories, including design, IT & programming, video & photography editing and marketing, with a pool of 25,000 professional service providers that clients can choose from. 

The company's recent transactions have risen tenfold in the last four years with the total number of members surpassing 1.5 million.

"Moving forward, I feel a duty to grow our company in line with the rising trend of the so-called “geek economy," and to increase our market presence," said Park Hyun-ho, the chief executive of Kmong.


Write to Jong-woo Kim at jongwoo@hankyung.com
Elaine Jiwon Kim edited this article.