South Korean business management and data analytics software as a service (SaaS) platform, Hyperlounge has raised $8 million in Series A funding to "grow beyond being a business analytics platform."
Hyperlounge, which was founded in 2020, provides real-time data analysis and management insights for small and medium-sized enterprises (SMEs).
By integrating management consulting know-how with advanced data collection, automation, analysis, and visualization, it provides a software solution distinctive from other existing tools and services.
Through Hyperlounge, business executives can easily access and view key real-time data and analyses on their businesses that matter. This could also be done via mobile app, making it truly simple and intuitive to use for busy managers who are on the move.
Since its market launch in February, the company has rapidly secured 23 customers across various industries such as consumer goods, manufacturing, industrial and business to business (B2B).
CEO Jungin Kim, who previously worked as a partner at McKinsey, head of Hyundai Card, and global operations head at Affinity Equity Partners, said the company plans to become an "essential partner in digital transformation for global businesses through utilization of extensive management data to maximize companies’ competitiveness."
The funding round was led by Altara Ventures, along with other investors including FuturePlay, StoneBridge, BA Partners, RyuKyung PSG, and Nextrans. UClick, a Korean software reseller, also participated in the round as a strategic investor.