Childcare startup Tictoc Croc raises 6.3 billion won in Series A

Tictoc Croc, a childcare services provider, announced on the 31st that it had raised ₩6.3 billion in a Series A funding round. The investment brings the company’s total funding to ₩8 billion.

Tictoc Croc is a startup that uses a mobile app to match childcare teachers with families. It leads South Korea’s childcare industry in cumulative hours of care and the number of parent and teacher members. The company is also expanding its care spaces, drawing on its experience developing play-based content and operating programs to open up new opportunities for on-demand childcare in South Korea.

The round was joined by IGIS Asset Management, Mega Investment, Hanwha Investment & Securities, Capital One, and SmartStudy Ventures, the venture capital arm of SmartStudy, which owns the Pinkfong and Baby Shark IP. Existing investor YellowDog also participated in the follow-on round. The funding will support a range of initiatives to grow the business, including improving the Tictoc Croc app, expanding locations for Tictoc Island Kids Class, the company’s offline kids’ space, growing its character business, and building its team.

Je Hyun-joo, CEO of YellowDog, which participated in the investment, said, “We have watched Tictoc Croc focus on the social value of parenting from the early days of its business and grow without compromising on the quality of care. We expect the company to use its new funding to further strengthen its care content and lead the childcare market.”

Kim Hee-jung, CEO of Tictoc Croc, said, “With this investment, we will move closer to fulfilling our mission: to be there for families whenever and wherever they need help with childcare.”

Tictoc Croc: https://www.tictoccroc.com/