The Hyperlounge team
Hyperlounge, a real-time data analysis and management insights SaaS platform for small and medium-sized (SME) business executives, announced that it had raised US$8 million in Series A investment.
The funding round is led by Altara Ventures, together with FuturePlay, StoneBridge, BA Partners, RyuKyung PSG, and Nextrans.
South Korean software reseller UClick joined the funding round as a strategic investor.
In a press statement, Hyperlounge said that it plans to grow beyond being a business analytics platform to establishing itself as an essential partner in digital transformation for global businesses through utilising extensive management data to maximise companies’ competitiveness.
Hyperlounge CEO and co-founder Jungin Kim mentioned that the successful completion of Series A, despite the impending market downturn, validates the platform’s potential.
Founded in 2020, Hyperlounge is a SaaS platform that provides real-time business data analysis and management insights for SMEs. It integrates management consulting know-how with advanced data collection, automation, analysis, and visualisation, enabling business executives to access and view key real-time data and analyses on their businesses.
The service is also available as a mobile app.
Since its market launch in February, Hyperlounge said it has rapidly secured over 20 customers across various industries such as consumer goods, manufacturing, industrial and B2B.
Hyperlounge CEO Kim is a seasoned business veteran with experience as a Partner at McKinsey, Head of Hyundai Card, and Global Operations Head at Affinity Equity Partners.
Dave Ng, General Partner at Altara Ventures, said, “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.”
Also Read: Altara Ventures hits the final close of inaugural fund oversubscribed at US$130M
FuturePlay Director Jaiwoong Choi commented, “As a leading tech investor, we predicted that SMEs’ demand for Digital Transformation would increase and decided to invest based on CEO Jungin Kim and his team’s execution ability, experience and HyperLounge’s unrivalled technologies.”
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Image Credit: Hyperlounge
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