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Megazone Cloud receives $343 mn from MBK, IMM in Series C funding

Korea Economic Daily LogoKorea Economic Daily1 mo ago

Megazone Cloud receives $343 mn from MBK, IMM in Series C funding - Korea Economic Daily

Quick Summary:

Megazone Cloud Corp., South Korea’s largest managed cloud service provider (MSP), has completed its Series C funding round with a combined 450 billion won ($343 million) in investment from MBK Partners and IMM Private Equity.

MBK and IMM PE each will have stakes in Megazone Cloud in the mid-10% range following their investment.In February, KT Corp., Korea’s second-largest telecom operator, invested 130 billion won in Megazone for an 8% stake as part of the cloud firm’s Series C funding round.

In Series A funding in 2019, Megazone Cloud received a combined 48 billion won from 23 investors, including state-run Korea Development Bank, Kakao Investment Co.and KT Investment.


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Megazone Cloud receives $343 mn from MBK, IMM in Series C funding - Korea Economic Daily (Picture 1)Megazone Cloud receives $343 mn from MBK, IMM in Series C funding - Korea Economic Daily (Picture 2)

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Article Details

Author / Journalist: isnam@hankyung.com (In-Soo Nam)

Category: Economy

Topics: Company Service Megazone Korean Billion Investment Series Funding Corp Cloud Combined

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-10, 16:21:35

News Timezone: GMT +8:00

News Source URL: kedglobal.com

Language: English

Reading Time: 3 minutes read

Article Length: 409 words

Coverage Area: Korea, Republic of

Availability: Desktop Web, Mobile Web

News ID: 126398

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About Korea Economic Daily

Korea Economic Daily Logo

Main Topics: Economy

Official Website: kedglobal.com

Update Frequency: 8 posts per day

Year Established: 1964

Headquarters: Korea, Republic of

News Last Updated: 5h ago

Coverage Areas: Korea, Republic of

Ownership: Independent Company

Publication Timezone: GMT +8:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #91

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