Hyperlounge, a South Korea-based business management and data analytics software as a service (SaaS) platform, has raised $8 million in Series A investment.

In a statement on Friday, Altara Ventures said the venture capital firm led the investment, together with other prominent investors such as FuturePlay, StoneBridge, BA Partners, RyuKyung PSG, and Nextrans.

Joining in this round as well is UClick, a leading software reseller in Korea, as strategic investor.

Hyperlounge Co-Founder and Chief Executive Officer Jungin Kim, who is a seasoned business veteran with experiences as a Partner at McKinsey, Head of Hyundai Card, and Global Operations Head at Affinity Equity Partners, said the successful completion of Series A despite the impending market downturn is a validation of the platform’s potential.

“Ultimately, Hyperlounge plans to grow beyond being a business analysis platform to establishing itself as an essential partner in digital transformation for global businesses through utilization of extensive management data to maximize companies’ competitiveness,” he said.

Hyperlounge, founded in 2020, is a SaaS platform specialized in providing real-time business data analysis and management insights for small and medium-sized enterprises (SMEs).

By integrating management consulting know-how with advanced data collection, automation, analysis, and visualization, it provides a software solution distinctive from other existing tools and services.

Through Hyperlounge, business executives can easily access and view key real-time data and analyses on their businesses that matter.

This could also be done via mobile app, making it truly simple and intuitive to use for busy managers who are on the move.

Since its market launch in February, the company has rapidly secured 23 customers across various industries such as consumer goods, manufacturing, industrial and business to business (B2B).

The firm has also grown its full capabilities to provide for industry-specific management analysis platform, tag-based data ELT automation technology, data onboarding modularization technology, and customer-centric user interface and design.

“We are excited with Hyperlounge’s vision. The enterprise software market, especially in Asia, is ready for a technology cycle refresh – where businesses, big and small alike, will need to move from offline on-premise solutions to online cloud-based SaaS,

“We look forward to partnering and supporting Hyperlounge’s expansion in Southeast Asia and beyond,” said Dave Ng, General Partner at Altara Ventures.

Altara Ventures is a venture capital firm focused on early stage tech investments. The firm is led by general partners with extensive experience in founding, operating and investing in technology startups in Southeast Asia and globally.

Altara Ventures aspires to be the partner of choice, backing founders early on in their journeys by leveraging the firm’s global networks and experience in building to successful exits.

“As a leading tech investor, we predicted that SMEs demand for digital transformation would increase, and decided to invest based on Chief Executive Officer Jungin Kim and his team’s execution ability, experience and HyperLounge’s unrivaled technologies,” FuturePlay Director Jaiwoong Choi said.

FuturePlay is South Korea;s leading early stage deep tech investor, with a portfolio of more than 200 companies.

It has invested heavily in various startups across Korea, United States, Singapore and Southeast Asia, such as Bear Robotics, Haulio and Finku.

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