HMC Networks Secures 2 Billion KRW Follow-up Investment from Hana Ventures

Expecting Accelerated Development of CareNation with Cumulative Investment of 7.5 Billion Won

HMC Networks announced on the 24th that it has secured an additional investment of 2 billion KRW from Hana Ventures, enabling it to accelerate the development of its caregiver platform, ‘CareNation’.

HMC Networks, which had already received a total investment of 4 billion KRW from LSK Investment and HB Investment in February, has now reached a cumulative investment amount of 7.5 billion KRW with this latest funding, continuing its growth steadily despite the impact of COVID-19.

To develop CareNation, HMC Networks acquired the industry’s top caregiver association and operated it for four years, accumulating know-how from the field. Based on this, they improved the existing caregiver market’s issues and developed the caregiver brokerage O2O platform ‘CareNation’ for both guardians and caregivers.

Notably, CareNation is the first caregiver platform to receive PG service approval, allowing easy card payments. It also offers the advantage of enabling family members to register their own cards and split the caregiving costs.

Yoon Kyung-ui, Manager of the CareNation business division, stated, “As the aging trend accelerates, the importance of caregiving services is increasing, but the existing caregiver market has various problems such as difficulty obtaining information about caregivers and the inability to make card payments. Based on the know-how gained directly from operating the caregiver association on the ground, we aim to develop an app that is convenient for guardians, patients, and caregivers alike. Through CareNation, we want to create a caregiving service where families can entrust their loved ones with peace of mind.”

Jang Jun-ho and Nam Eun-hee, the lead evaluators of this investment, said, “HMC Networks is differentiated by its accurate understanding of the caregiving market’s problems based on abundant field experience. We highly evaluate its innovative services and future growth potential as a leader in the caregiving market. Since it operates the largest caregiver company offline in the industry, we expect significant growth as a first mover in the online platform market based on its know-how.”

HMC Networks plans to use this investment to accelerate the development of the caregiver platform ‘CareNation’ and aims for an official launch in July.