Megazone Cloud successfully raises $44 mil from investors Salesforce Ventures participates in funding round

Translated by Kim So-in 공개 2021-06-28 07:35:51

이 기사는 2021년 06월 28일 07:24 더벨 유료페이지에 표출된 기사입니다.

South Korea’s cloud market leader Megazone Cloud Corp has successfully raised 50 billion won ($44 million) from nine investors, including Salesforce Ventures, an investment arm of sales tech giant Salesforce, industry sources said Thursday.

The Korean company raised funds as part of a Series B funding round that started in 2020. It has raised 190 billion won in gross proceeds so far through the funding round, the largest amount ever among cloud managed service providers.

Megazone Cloud raised funds from 23 financial investors last year, including JKL Partners, Stonebridge Capital, and Korea Investment Partners. Its fundraising spree has continued into this year, with the company raising proceeds from nine strategic investors including Salesforce Ventures in the first half.

“Salesforce has selected next-generation companies which have technology and capabilities to expand its platform and ecosystem when making its investment,” said an industry source. “The latest fundraising from Salesforce will serve as an opportunity for Megazone Cloud to secure stronger business competitiveness not only in Korea but also in the Asia-Pacific market.”

Founded in 1998, Megazone Cloud has been growing rapidly amid the growth of the global cloud services market. It has gained a dominant position in the South Korea’s public cloud market after becoming an Amazon Web Service partner in 2012. It operates its offices in the U.S., Canada, China, Japan, Hong Kong, and Vietnam.

Megazone Cloud selected its underwriters earlier this year as it aims to go public in 2023. It plans to raise funds in a Series C funding round in the second half of this year. (Reporting by Ar-rum Rho)
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