Founders: Sung-Nam Yong , Jun-Hyuk Choi
Founded in: 2015
Financing status: USD 800K for undisclosed round in 2017
Dream Loft, which operates the outsourcing platform, CastingN, received investment from K Cube Ventures and SBA. The total investment amount is USD 800,000, jointly conducted by K Cube Ventures, Plantree Partners and SBA. K Cube Ventures invested USD 600,000.
CastingN is a mediation platform that connects corporations with professional outsourcing companies. Its main customers are small to medium sized companies that need professional outsourcing companies for marketing, recruitment, and design, because they lack accessibility and negotiation power. Currently, there are around 1,300 companies registered on the CastingN platform.
CastingN provides a place for safe and transparent transactions by conducting mediation based on competency-based evaluation rather than on social networking. When a company registers for an outsourcing task, CastingN connects an outsourcing company that is best suited for the optimal conditions of the platform. It reduces the risks of outsourcing transactions, such as assisting the intermediary process of transactions and reducing the risk in the selection process.
Through this investment, CastingN plans to introduce B2B programs such as developing job-oriented contents and conducting offline job training. Sung-Nam Yong, Co-CEO of CastingN, mentioned, “CastingN is a platform that solves the inconvenience of outsourcing transactions in the domestic outsourcing market, which is worth more than USD 100 billion a year. We will do our best to provide transparent and reliable information in the process of connecting companies”.
Shina Chung, a partner at K Cube Ventures, said, “This is a solution that allows not only the requesting companies but also the outsourcing companies to focus on retaining competency and acquiring new customers. We hope to see CastingN lead innovation in the outsourcing industry and become a market leader”.
This article, entitled “Outsourcing mediation platform CastingN raises funds to introduce B2B programs”, was written in Korean by Minjung Kim, edited by AllTechAsia.