Korean Leading Collaboration Tool 'Flow' Secures 2 Billion KRW Investment from Hana Ventures and Others

MadrasCheck (CEO Lee Hak-jun), the developer of Korea's leading collaboration tool 'Flow,' announced on the 11th that it has secured an investment worth 2 billion KRW. This investment was led by Hana Ventures, the venture capital arm of Hana Financial Group. The funds will be used for Flow's marketing and to strengthen its product competitiveness to a global standard. Through this, the company aims to accelerate growth this year, targeting more than five times the growth compared to the previous year.

Since its launch in 2015, Flow has stood out in the market with an annual growth rate exceeding 300%. It currently has 1,000 paying corporate customers and is creating unparalleled customer success stories in the market. In particular, with SI affiliates, adoption is increasing among large conglomerate affiliates and financial companies that have high barriers to using external IT solutions. Representative clients include Hyundai·Kia Motors, Hyundai Mobis, S-oil, BGF Retail, DB Financial Investment, SK Infosec, and E-Land Retail.

Kim Hyun-jun, Senior Manager at Hana Ventures who led the investment, stated, “Flow provides a collaboration tool service that is easy for anyone to use while offering excellent security. Especially, it offers an interface that allows easy collaboration with external personnel on a per-project basis. Compared to global services such as Slack and Microsoft Teams, it has unique strengths, which led us to make a decisive investment.”

The greatest advantage of Flow is its intuitive usability, allowing any employee to use it easily. It features a messenger function specialized in security and, based on its workflow function, enables systematic internal business processes.

Additionally, the service is offered not only in a SaaS model but also On-Premise with an efficient methodology, and it supports organic integration with internal systems such as ERP and groupware systems, which is considered its biggest strength.

Lee Hak-jun, CEO of MadrasCheck, said, “We will invest in developing better customer-centric products with this investment. We will also do our best to promote Flow to more than 80% of domestic companies that still work with personal messengers.” He expressed his ambition, saying, “We will secure the funds necessary for overseas expansion as well as domestic business growth and become Asia’s top collaboration solution company beyond Korea.”