About Balaan
Balaan is a company based in Seoul (South Korea) founded in 2015 by Joonhong Park. Balaan has raised $44.97 million across 3 funding rounds from investors including SBI Investment Korea, Company K Partners and Mega Investment. Balaan operates in a competitive market with competitors including Atney and Yble, among others.
- Headquarter Seoul, South Korea
- Founders Joonhong Park
- SectorsRetail
- Email••••••••
- Phone•••• ••••
- Website balaan.co.kr
- Social LinkedIn
- Total Equity Funding$44.97M (USD)
in 3 rounds
- Latest Funding Round$17.33M (USD), Series C
Oct 2022
- InvestorsSBI Investment Korea
& 8 more
Funding Insights of Balaan
Balaan has successfully raised a total of $44.97M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $17.33 million completed in October 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $44.97M
- Total Rounds 3
- Last Round Series C — $17.33M
- Investors Count 9
All 3 funding rounds of Balaan with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Oct 2022 | $17.33M | Series C | – | DAOL Ventures | |
| Oct 2021 | $27.64M | Series B | – | Company K Partners, Shinhan Capital | – |
| Dec 2017 | – | Seed | – | SparkLabs | – |
9 investors in total: 9 institutional.
Investors in Balaan
Balaan has secured backing from 9 investors, including venture fund and institutional investors. Prominent investors backing the company include SBI Investment Korea, Company K Partners and Mega Investment.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital firm focused on multiple sectors | – | daolventures.com | Palo Alto, United States | |
Venture capital firm investing in tech startups | 2006 | kpartners.co.kr | Seoul, South Korea | |
Stage & sector-agnostic VC firm funding companies in South Korea and the US | 1981 | ktbnetwork.com | Seongnam-si, South Korea | |
Sector-agnostic VC firm investing in geographies such as South Korea | 1986 | sbik.co.kr | Seoul, South Korea | |
Venture capital and private equity are invested in various sectors. | – | koloninvest.com | Seoul, South Korea | |
South-Korea based VC firm | 2012 | megainv.co.kr | Seoul, South Korea | |
Startup growth is accelerated through focused accelerator programs by SparkLabs. | – | sparklabs.co.kr | Seoul, South Korea | |
Corporate advisory firm | – | shcap.co.kr | Ansan-si, South Korea | |
Investment management services are offered for growth-oriented funds in South Korea. | – | kgrowth.or.kr | South Korea |
Investor details for Balaan
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
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People of Balaan
10 people are tracked at Balaan (8 in leadership, 2 in team).
| Name | Role | Group |
|---|---|---|
Joonhong Park | Co-Founder & CPO | Leadership |
Hyung Rok Choi | CEO | Leadership |
Yujung Kim | VP of Communications | Leadership |
최형록 | CEO | Leadership |
Hyungjun Choi | COO | Leadership |
Balaan Merchandising | Director Of Merchandising | Leadership |
Suyeon Choi | Chief Strategy Officer | Leadership |
Sam Kim | Offline Client Experience Director | Leadership |
Minil Yun | Lead Data Engineer | Team |
Nam Seunghoon | Global Sales Manager | Team |
Complete people profiles for Balaan
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Timeline of Balaan
3 dated milestones of Balaan across 7 years, from founding to its latest funding, stage changes and deals.
- Founded Balaan is founded.
- Funding First funding round.
- Funding Latest funding round, Series C, of $17.3M.
Competitors of Balaan
Balaan operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Atney and Yble, among others.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| atny.com | 1997 | Seoul, South Korea | – | – | Online retailer offering multi-category fashion products | |
| y-ble.com | 2021 | Seoul, South Korea | – | – | Manages an e-commerce store featuring multi-category fashion products from designers. |
Detailed competitors of Balaan
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Balaan
The website of Balaan (balaan.co.kr) receives about 130K visits a month.
- Monthly visits130K
▼ 14.3% vs previous month
Websites whose visitors overlap most with Balaan. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| trenbe.com | 100% | 1.6M | #31,748 | View details | |
| feelway.com | 96% | 1.2M | #45,644 | View details | |
| kream.co.kr | 92% | 5.4M | #7,045 | View details | |
| jentestore.com | 91% | 233.8K | #142,881 | View details | |
| fruitsfamily.com | 82% | 2.2M | #27,112 | View details | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 40 similar websites and full traffic analytics for Balaan
The complete similar-websites list, audience overlap and engagement analytics require an active premium plan.
- 40 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
Verified entity values are shown only after access is granted.
Latest news on Balaan
Complete news archive for Balaan
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Similar companies to Balaan
10 companies that operate in the same segment as Balaan (Fashion & Lifestyle E-Commerce), ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Eyewear is offered online for men, women, and kids. | 2010 | Gurugram, Haryana, India | USD 1.08 B | USD 939.4 M | – | |
Fashion and lifestyle products are offered via an online marketplace. | 2007 | Bengaluru, Karnataka, India | USD 123.71 M | USD 542.17 M | 1,108 | |
Gold and silver jewellery, lab-grown diamonds, and accessories are retailed. | 2019 | Bengaluru, Karnataka, India | USD 142.34 M | USD 32.66 M | 711 | |
Photo editing and sharing apps are developed by Meitu. | 2008 | Xiamen, Fujian, China | USD 525 M | USD 536.99 M | 2,420 | |
Subscription-based jewelry is provided by digital-first brand BlueStone. | 2011 | Bengaluru, Karnataka, India | USD 254.97 M | USD 259.64 M | 3,210 | |
Men's fashion apparel is offered online by Bonobos. | 2007 | New York, New York, United States | USD 127.67 M | – | – | |
Metabolic health is tracked via devices and fitness platforms. | 2019 | Bengaluru, Karnataka, India | USD 163.28 M | USD 65.48 M | 274 | |
Pre-owned fashion products are sold via an online marketplace. | 2008 | Vilnius, Lithuania | USD 872.04 M | – | – | |
Online rental platform offering multi-category fashion products and accessories | 2009 | New York, New York, United States | USD 326.35 M | USD 306.2 M | 850 | |
Customizable smart lock screen experiences are developed for mobile devices. | 2019 | Bengaluru, Karnataka, India | USD 390 M | – | – |
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Frequently Asked Questions about Balaan
Balaan was founded in 2015 and raised its 1st funding round 2 years after it was founded.
Balaan is headquartered in Seoul, South Korea.
Hyung Rok Choi is the current CEO of Balaan.
Balaan is a funded company, having raised a total of $44.97M across 3 funding rounds to date.
Online retailer of multi-category fashion products by designers. The product catalog includes skirts, pants, tops, shoes, sneakers, bags, etc.
Balaan has 9 investors. Key investors include SBI Investment Korea, Company K Partners, Mega Investment, KTB Network, and DAOL Ventures.
The website of Balaan receives about 130 thousand visits a month.