Freelance Market Platform 'Kmong' Secures 31.2 Billion KRW Investment

Focusing on Building a 'Human Cloud' Providing All Resources Needed by Companies

[Asia Economy Reporter Kim Cheol-hyun] Kmong, a freelance market platform operated by CEO Park Hyun-ho, announced on the 29th that it has secured a total investment of 31.2 billion KRW from Company K Partners, Premier Partners, Korea Development Bank, as well as existing investors InterVest and Mirae Asset Venture Investment.

This is the largest investment ever for a freelance platform. Following the 11 billion KRW investment raised in 2018, Kmong has now secured Series C funding. With this, the cumulative investment amount has reached 48 billion KRW.

Founded in 2012, Kmong started as an intermediary platform connecting freelancers and clients by promoting intangible service transactions. Currently, it offers a total of 250,000 expert services across more than 400 categories in over 10 fields including design, IT & programming, video, photography & editing, and marketing.

Based on this, Kmong has recorded over tenfold growth in transaction volume over the past four years. Last year, the average income of the top 10% experts in each field reached 344 million KRW in IT & programming, 167 million KRW in design, and 85 million KRW in video, photography & music.

Kmong plans to focus on building a "Human Cloud Service" that provides all human resources necessary for companies based on this investment. Recently, it has expanded to include "Kmong Enterprise," which connects experts to companies, and "Kmong Money Plus," which offers investment and side-job related knowledge content as e-books.

Park Hyun-ho, CEO of Kmong, said, "We will develop the platform with a sense of mission to maximize positive impact in the gig economy era," adding, "With this investment, we plan to accelerate not only talent recruitment but also the expansion of various services."