VCNC Raises 3 billion KRW (Approx. 3 million USD) Investment
2013 1월 23

The creator of “Between”, VCNC (CEO: Jaewook Park) recently raised a whopping 3 billion KRW (approx. 3 million USD) investment from four investors.

The investment make-up includes investments from:
Stonebridge Capital (1 billion KRW, approx. 1 million USD),
KTB Network (1 billion KRW, approx. 1 million USD),
Capstone Partners (500 million KRW, approx. 500,000 USD), and
Softbank Ventures (500 million KRW, approx. 500,000 USD).

Jaewook Park said at an exclusive interview with beSUCCESS that “[they] raised fundings so that their overseas expansion could be done with ease, and that considering the business model, they will not be spending the investment on the current system they have but spend it to employ a more experienced senior developers to VCNC”. He said that he will be doing this by looking at their company developments in the long-term.

With regards to the decisions made by investors’ decision to fund VCNC, Park also said that it is of his opinion that “investors are confident in VCNC, because the developers have the capability to expand at a global level, the designers have global ideas and the rest of the team have shown ample passion”. He also said that the investors believed in VCNC’s goals and its achievability for 2013 and 2014.

In the future, VCNC’s first goal is to make the Japanese market as big as Korea’s in 2013. VCNC’s Between had 2,350,000 downloads globally and Korea had 1,600,000 downloads.

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