Document tool company Business Canvas secures Series A2 round

Business Canvas, a South Korean SaaS (software as a service) startup that services the global document tool "Typed," announced on Tuesday that it has raised 5 billion won ($3.9 million) through a Series A round.

Typed is an Internet-based document tool that has the advantage of knowledge management and utilization. Having secured users in 184 countries, it has successfully entered the market by repeatedly increasing paid users at an average monthly growth rate of 80%.

The investment was led by Sui Generis Partners with Shinhan Venture Investment and Infobank participating as fresh new investors.

Existing investors including Kakao Ventures and Shinhan Capital have made follow-up investments for the third consecutive time.

"We led the A2 round because we believe that Typed's business collaboration feature that integrates cloud storage and documentation, which are unique to existing messenger-based collaboration tools, has significant competitiveness in the global B2B (business-to-business) SaaS tool market," said Kim Han-Je, partner of Sui Generis.

Business Canvas had previously received a total of 7.3 billion won from such venture capitalists as Bluepoint,  Sopoong, Mirae Asset Venture Investment, Nexttrans, Xeno Investments Asia, and Dunamu & Partners. Accordingly, the success of the latest Series A funding brought up its cumulative funding volume to 12.3 billion won.

"We will be reborn as a representative digital transformation (DT) company that leads and contributes to the growth of the domestic B2B SaaS startup industry," said Kim Woo-jin, CEO of Business Canvas.

Write to Da Eun Choi at max@hankyung.com