MediBloc raises 4 billion won in Series A funding

Medibloc announced on the 2nd that it had raised KRW 4 billion in a Series A round from leading Korean investors and companies.

The round included financial investors IMM Investment and Company K Partners, as well as strategic investor NAVER D2 Startup Factory. The investment is expected to strengthen Medibloc’s platform by enabling close collaboration with NAVER, a leading IT company, in addition to its existing work in healthcare. The participating investors have diverse portfolios that include prominent unicorns Coupang and Woowa Brothers, as well as Krafton (formerly Bluehole), RIDI Books, WATCHA and MUSINSA.

The funding is notable because it was secured amid a sharp global slowdown in investment markets caused by COVID-19. Medibloc plans to use the investment to accelerate its medical information platform business and build a more fully developed, patient-centered healthcare platform.

“As we enter the post-COVID era, there is growing interest and high expectations across society for the growth of digital healthcare services. The high level of development and rapid growth of the healthcare platform Medibloc is building and operating also played a major role in our investment decision,” said Moon Yeo-jeong, a director at IMM Investment, which led the round. “We expect this investment to help Medibloc establish itself as a global healthcare platform provider beyond Korea.”

“Medibloc is building a healthcare ecosystem that will drive innovation across every aspect of healthcare. We are delighted that this investment recognizes our technology and growth potential, both inside and outside the company,” said Ko Woo-kyun, co-CEO of Medibloc. “We will continue to do our utmost to drive medical innovation based on healthcare data.”