[Asia Economy Reporter Seungjin Lee] NHN Cloud has achieved a corporate valuation of 1 trillion KRW after successfully securing its first investment since becoming an independent corporation.
On the 26th, NHN Cloud announced that it had attracted an investment of approximately 150 billion KRW (15%) from 'Karites Co., Ltd.', a special purpose company (SPC) established by IMM Investment. Through this investment, NHN Cloud reached a corporate valuation of 1 trillion KRW.
IMM Investment, the investor, is a leading alternative investment firm in Korea that has discovered early-stage companies such as Musinsa, Woowa Brothers (Baedal Minjok), Krafton, and Bucketplace (Today’s House). It currently manages assets worth approximately 7 trillion KRW across venture capital (VC), private equity funds (PEF), and infrastructure investment sectors.
NHN Cloud plans to strategically utilize the secured funds to strengthen technology R&D in areas such as cloud, AI, and XaaS (all services provided based on cloud), maintain its leadership in the public sector market, target the private sector market, expand global business, and actively develop regional cloud data center projects to accelerate growth.
In particular, this investment is the first achievement under NHN Cloud’s management goal of “aggressive business expansion” announced in its 2023 New Year’s address. Despite the tightening investment market, NHN Cloud was recognized by capable investors for its growth potential as a domestic cloud service provider (CSP).
IMM Investment stated, “In the growing cloud market, we see promising potential for NHN Cloud, which has competitiveness both domestically and internationally, to grow into a leading cloud specialist company in Korea if it pursues aggressive business expansion. We believe synergies with digital infrastructure companies in the IMM portfolio such as Dreamline, Dreammark One, and GS ITM will help support business expansion.”
NHN Cloud co-CEOs Baek Domin and Kim Donghoon said, “This investment is significant as it demonstrates NHN Cloud’s capability to secure resources and build growth partnerships, proving its resilience as a core company in the domestic cloud industry despite challenging external conditions. Going forward, NHN Cloud will continue to play a leading role in developing the cloud industry ecosystem and expanding the market.”
Meanwhile, NHN Cloud, which launched as an independent corporation in April 2022, is a cloud-specialized company that has secured clients across various sectors including public, finance, IT, and gaming.
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