SBVA Invests in Pharmacy Management Integrated Platform 'BaroPharm'

SBVA Leads 15 Billion KRW Pre-IPO Round Investment

SBVA announced on the 29th that it led the pre-IPO (pre-listing equity investment) round for ‘BaroPharm,’ a total platform for pharmacy management.

The total investment amount for this round was 15 billion KRW, with new participants including SBVA and KDB Sanho Capital. Existing investors such as Mirae Asset Capital, Mirae Asset Venture Investment, and Company K Partners also participated in follow-up investments. The cumulative investment amount has increased to 35 billion KRW.

BaroPharm selected Mirae Asset Securities as the lead underwriter in March and is currently proceeding with the procedures for its initial public offering (IPO). BaroPharm is a startup co-founded by CEO Kim Seul-gi and Chief Operating Officer (COO) Shin Kyung-do. In July 2021, it launched Korea’s first integrated pharmacy management platform, ‘BaroPharm.’ Three years after the service launch, more than 20,000 pharmacies nationwide, accounting for 80% of all pharmacies, are using the platform. The cumulative order amount has also reached 3 trillion KRW.

CEO Kim Seul-gi and COO Shin Kyung-do, both licensed pharmacists, have led the advancement of pharmacy-centered services by providing various pharmacy management functions such as integrated pharmaceutical ordering on the BaroPharm platform, out-of-stock medicine restock notifications, integrated returns, and community features, thereby enhancing customer convenience.

Jung Ji-woo, Executive Director at SBVA who led this investment, stated, “Since the service launch, BaroPharm has demonstrated the competitiveness of its pharmaceutical ordering platform by rapidly acquiring customers and achieving external growth.” He added, “We also expect future expansion into commerce businesses in the health management sector and various B2B services utilizing data, beyond pharmaceutical distribution and brokerage.”

CEO Kim Seul-gi said, “This investment round has laid an important foundation to accelerate BaroPharm’s growth.” She added, “We will continue to do our best to build an ecosystem as a pharmaceutical platform by introducing various innovative solutions for new growth engines.”