Cloudike raises 2.5 billion won in Series A funding

Cloudike announced on the 27th that it had closed a KRW 2.5 billion Series A funding round. Cloudike is a cloud file-sharing service provider. Investors in the round included Korea Development Bank (KDB), the Korea Credit Guarantee Fund and Singapore-based Guardian Fund.

Notably, this was Cloudike’s first fundraising since it spun off from an overseas holding company.

Since its founding in 2013, Cloudike has operated a range of cloud businesses alongside a U.S. holding company and a Russian subsidiary. After spinning off in 2020 from an overseas holding company focused on consumer cloud services, it shifted its focus to enterprise cloud services.

Cloudike’s enterprise cloud service uses synchronization technology patented in South Korea and the United States. It is offered on a subscription basis, allowing businesses to share and sync files without a significant financial burden. Customers can choose the storage capacity they need. They can create file-sharing links and share files with others through messaging apps, and recipients can view files directly on a mobile device or in a browser without downloading them.

Nexon Korea, CJ, HK inno.N and Terra Funding are among the companies that have deployed Cloudike’s enterprise service on-premises for employee use. More than 700 small and midsize companies in the video, manufacturing and construction sectors also use the paid subscription service.

A representative of KDB’s Venture and Technology Finance Department said, “Cloudike is one of the Financial Services Commission’s ‘Korea’s Innovative Companies 1000’ and stands out in the domestic cloud storage market, which is dominated by foreign companies. We expect its strong technology and growth potential to help secure data sovereignty in South Korea.”

Cloudike CEO Lee Sun-woong said, “We’re pleased to have closed our Series A round with reputable investors such as KDB and the Korea Credit Guarantee Fund. We’ll use the funding to recruit top talent and step up our marketing efforts.”