Datarize raises 11.5 billion won in Series A funding

Datarize, a provider of data-driven e-commerce growth solutions, announced on the 12th that it raised KRW 11.5 billion in Series A funding. The round was led by Stonebridge Ventures, with participation from We Ventures, Korea Development Bank, Mirae Asset Venture Investment, and NAVER D2SF.

Datarize was founded by data scientists who previously worked at SK Telecom, Kakao, and Coupang, where they managed company-wide data and successfully led profiling and growth-hacking initiatives. The founding team has worked together since 2012 and previously founded Numberworks, which they sold to Kakao in 2016.

Founded again in 2019, Datarize has developed and launched an all-in-one growth solution for e-commerce. Drawing on its strong data analytics capabilities, the solution performs in-depth diagnostics and analysis of e-commerce sites and automates marketing based on customer behavior data. A/B test results show that clients using Datarize’s solution saw an average 10% increase in sales. Recently, Datarize CSO Minseong Park shared insights on using data to increase sales at the NAVER Cloud Summit, drawing considerable attention from the data and e-commerce industries.

Since its official launch in 2021, Datarize’s solution—which has demonstrated its impact on sales—has grown its client base 20-fold without separate marketing and achieved a 98% subscription renewal rate. Its key clients include data-savvy e-commerce companies such as Xexymix, Now in Paris, Seoul Store, Sonyeonara, and Odd. Online stores on Cafe24 and Makeshop can also use Datarize’s solution immediately, and the company plans to add support for Godomall in the first quarter of this year.

Building on its results in the Korean e-commerce market, Datarize plans to step up its international expansion in 2022. Its strategy is to target the local market through Shopify, a leading North American e-commerce platform, and expand its services to international website builders and independent online stores with strong demand for B2B SaaS.

“As the e-commerce market has grown even more rapidly due to COVID-19, the B2B SaaS market serving e-commerce businesses is also expanding quickly,” said Youngdon Song, a director at Stonebridge Ventures, which led the investment. “Datarize has earned recognition for its product value from Korean clients. Building on this, we expect the company to grow in the domestic market and successfully expand overseas.”

“Rather than stopping at standalone services, Datarize automates every step—from data collection, processing, and diagnostics to marketing actions and optimization—to meaningfully improve the entire customer journey,” said Seongmu Kim, CEO of Datarize. “We aim to grow into an all-in-one growth solution for every e-commerce business that needs to use data.”

Datarize: https://www.datarize.ai/