Madup Receives 15 Billion KRW Bridge Investment from Crossroad Partners and IMM Investment

Ad tech startup Madup (CEO Jumin Lee, Dongho Lee) announced on the 17th that it has successfully secured a total of 15 billion KRW in Pre Series-C bridge investment from Crossroad Partners and IMM Investment.

Following its Series A in 2016 and Series B in 2018, Madup has officially reaffirmed its growth potential by achieving a cumulative investment amount of approximately 31 billion KRW through this bridge round.

In particular, during this investment round, Madup was recognized for its high technological competitiveness and growth potential, receiving a corporate valuation of over 250 billion KRW, which represents about a 2.5-fold increase compared to the previous investment round one and a half years ago.

Madup operates the ‘MADIT’ business, providing digital marketing agency services to large advertisers, and the ‘Lever’ business, offering AI-powered digital marketing automation solutions to small and medium-sized businesses (SMBs).

Madup stated that it plans to use the funds raised from Crossroad Partners and IMM Investment to further strengthen the competitiveness of its core MADIT business and accelerate the development of Lever, its AI-based digital marketing automation solution.

Additionally, Madup will actively expand recruitment of outstanding talents across various fields, including performance marketers (AE), developers, data scientists, product owners, and designers, to build overwhelming technological and data competitiveness in the digital marketing sector.

Jumin Lee, CEO of Madup, expressed, “I am honored and feel a heavy responsibility to receive new investments from the country’s top investment institutions along with follow-up investments from existing investors.” He added, “We will do our best to unite our team and grow Madup into the No.1 ad-tech startup representing the digital marketing market.”

Meanwhile, Youngsoo Ha, Managing Director of Crossroad Partners, an existing investor who decided on an additional 10 billion KRW investment this time, stated, “The domestic digital marketing market exceeds 8 trillion KRW in size and is growing at over 15% annually.” He explained the reason for investment, saying, “Madup is rapidly growing in the digital marketing market based on its strong technology and data competitiveness and will lead innovation in the market going forward.”