Moadata Submits Securities Report... "Aiming to Become a Leading AI Anomaly Detection Company"

[Asia Economy Reporter Ji-hwan Park] MoaData, an AI specialized company based on anomaly detection technology, announced on the 25th that it has submitted a securities registration statement to the Financial Services Commission for its KOSDAQ listing and has officially entered the public offering process.

According to the securities registration statement submitted by MoaData, the offering will be conducted entirely through a 100% new share issuance. The total number of shares offered is 800,000. The desired public offering price per share is between 24,000 KRW and 28,000 KRW. The total amount to be raised is between 19.2 billion KRW and 22.4 billion KRW. The demand forecast will be conducted over two days from February 21 to 22, and the general public subscription will take place on the 25th and 28th. The lead underwriter is Hana Financial Investment.

Founded in 2014, MoaData recently launched Korea’s first AIOps solution, ‘PETAON Forecaster,’ to address the rapidly increasing ICT system failure issues and to overcome the limitations of existing ICT management systems.

PETAON Forecaster integrates deep learning technology into existing ICT operation systems to detect and predict system anomalies, automatically analyze the causes of abnormal behavior, and prevent system failures.

Since the beta version release in 2016, the product achieved sales of 12.7 billion KRW in 2020, four years later. Currently, it has secured clients including public enterprises and major domestic corporations, showing continuous sales growth. The company aims to expand its market share by entering the SaaS market within private and public cloud systems and advancing into the global market.

Recently, MoaData has actively expanded its business into the healthcare sector by developing AI-based healthcare analytics services. In March last year, it signed a business agreement with a major domestic logistics and distribution company to build a healthcare solution for delivery workers, launching a customized health service that analyzes real-time health data collected through smart devices using AI.

Han Sang-jin, CEO of MoaData, stated, "Among AI solution-related listed companies, despite being a technology-specialized company, we have maintained solid business performance with six consecutive years of operating profit since the launch of PETAON Forecaster in 2016, based on our outstanding technological competitiveness." He added, "After listing, we will expand our business and apply anomaly detection technology across various industries to become a leading AI anomaly detection company."