Wrtn Technologies closes 100 billion won Series C at 1.2 trillion won valuation

Wrtn Technologies has closed a Series C financing of about 100 billion won, or roughly $72 million, at a post-money valuation of 1.2 trillion won, or about $870 million, according to Bloomberg. Other Korean coverage cited a valuation of about 1.4 trillion won, or more than $1 billion. The financing brought cumulative funding to 230 billion won and made Wrtn the first South Korean startup selling consumer AI services, rather than foundational technologies such as AI models or semiconductors, to reach unicorn status. Investors included Coreline Ventures, Eugene Asset Management, Goodwater Capital, Antler Global, Woori Venture Partners, Sui Generis Partners, Korea Development Bank and Capstone Partners. Wrtn provides free AI services for search, conversation, document drafting, presentation design and image generation, while monetizing through Crack, its AI character chat service known as Kyarafu in Japan and OOC in North America. Overseas revenue has surpassed domestic revenue after OOC exceeded 10 billion won in monthly revenue within three months of its May North America launch. Wrtn reported 47.1 billion won in revenue last year and is targeting 200 billion won this year, with the new capital earmarked for global expansion, service development and stronger youth-protection measures.

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