Korean App Builder ProtoPie Raises $8 Million For North America Expansion

ProtoPie, a Seoul-based startup that helps businesses build websites and mobile apps, raised $8 million in a funding round to fuel its global expansion.

The funding round was led by leading Korean venture capital firm LB Investment, whose other investments include Kakao Games, online grocery startup Kurly and Goldman Sachs-backed proptech startup ZigBang.

Existing investors Dubai-based HB Investment, Seoul-based Intops Investment and Korean mobile game company Devsisters also participated in the funding round. Korean billionaire Park Hyeon-joo’s Mirae Asset Venture Investment has joined the round as a new investor.

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The $8 million brings the total funds raised by ProtoPie to nearly $18 million. The startup said the new funds will be used to expand in North America and establish offices in Vancouver and Austin, as users in the region account for 35% of the company’s revenue.

The startup’s software provides easy-to-use templates for developing prototype apps and websites. Its users include Korean internet giants Naver and Kakao, as well as billionaire Jay Y. Lee’s Samsung and Hiroshi Mikitani’s Japanese e-commerce giant Rakuten.

ProtoPie claims to have served 15,000 enterprise users from 100 countries since 2017, when its software was released. Most of its users are from the United States, Germany, and the United Kingdom, and work in companies such as Google, BMW, and Vodafone.

ProtoPie was founded in 2014 by Tony Kim, a former interaction designer at Naver and Google, and Scotty Kim, a former software engineer at Samsung.

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