Business data platform company COOCON announced on the 27th that it has committed a ₩2 billion pre-Series A investment in POSPACE LAB, developer of DataPure, a food and restaurant data reporting solution.

Along with securing the investment, POSPACE LAB will also use COOCON’s APIs, enabling it to provide more reliable, high-quality monitoring services.

Founded in 2019, POSPACE LAB launched DataPure, a solution that collects data from restaurants and delivery services and analyzes sales and customer responses in an integrated way. Its differentiated technology has earned recognition from major industry players, including FreshEasy, South Korea’s leading meal-kit company, and School Food, a leading delivery-focused restaurant operator.

The company also identifies the needs of food and restaurant businesses and provides tailored software-as-a-service (SaaS) solutions. Its platform helps franchises digitize existing operations and gives customers ownership of all data generated throughout the restaurant and delivery process.

“Starting with South Korea’s leading data reporting solution, POSPACE LAB will expand into the country’s leading franchise management system,” said Seung Young-wook, CEO of POSPACE LAB. “We aim to become a pioneer in the digital transformation of South Korea’s restaurant industry.”

“It is meaningful to provide data not only to our core customer groups—banks, fintech companies, securities firms and credit card companies—but also to the franchise industry,” said Kim Jong-hyun, CEO of COOCON. “We will do everything we can to support POSPACE LAB in delivering its differentiated integrated restaurant data analysis solution.”

With the pre-Series A investment, POSPACE LAB plans to move beyond data solutions and focus on building a SaaS-based Franchise Management System. It also plans to expand into franchise SaaS managed service provider (MSP) services, becoming the first in the industry to recommend and sell SaaS solutions tailored to food and restaurant businesses and provide data care services.

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