HMC Networks raises 2 billion won from Hana Ventures

HMC Networks, operator of the caregiving platform CareNation, announced on the 20th that it had raised an additional KRW 2 billion from Hana Ventures. The company had secured KRW 2 billion each from LSK Investment and HB Investment last February, bringing its cumulative funding to KRW 7.5 billion.

To develop CareNation, HMC Networks acquired and operated the industry’s largest caregivers’ association for four years, building hands-on expertise. Drawing on that experience, it developed CareNation, an O2O platform that connects caregivers with families and addresses problems in the traditional caregiving market. CareNation is the first caregiving platform to receive approval for payment gateway services, enabling convenient card payments. Families can also register individual cards and split caregiving costs among themselves.

Following this investment, HMC Networks plans to accelerate development of CareNation, which is scheduled to officially launch in July.

“As the population ages more rapidly, caregiving services are becoming increasingly important. Yet the traditional market has many problems, including difficulty accessing information about caregivers and the inability to pay by card,” said Yoon Kyung-eui, manager of the CareNation business division. “Drawing on the expertise we gained firsthand while operating a caregivers’ association, we aim to develop an app that is convenient for families, patients and caregivers alike. We want CareNation to offer a service that lets people entrust their loved ones to caregivers with peace of mind.”

“HMC Networks stands out for its deep understanding of the caregiving market’s challenges, grounded in extensive firsthand experience,” said investment managers Jang Jun-ho and Nam Eun-hee, who led the investment. “We see it as a leader in the caregiving market and rate its innovative service and growth potential highly. Given that it operates the industry’s largest caregiving company offline, we expect its expertise to help it become a first mover in the online platform market and drive significant growth.”

HMC Networks: https://www.hmchealthworks.com/