Business card service developer Drama & Company receives USD 4.5M from Naver


Founder: Jae Ho Choi

Founded in: 2013-07-03

Financing status: USD 4.5 million for undisclosed round in 2017

Naver announced on October 26 that it invested USD 4.5 million into Drama & Company, a developer of a business card management service called Remember. The investment process will be completed on November 1, in such a way that Naver will participate in the capital increase of Drama & Company.

Drama & Company previously received USD 900K of seed investment from Capstone Partners in April 2014, and received follow-on investment amounting to USD 1.8 million from Daekyo Investment, Cyberagent Ventures, and Capstone Partners in December of the same year. After that, it raised the next round of investment to USD 6 million, from Partners Investment, Korea Investment Partners, Aju IB Investment, and Daekyo Investment.

Remember is Korea’s representative business card management service with over two million users. It is popular among users for adopting the typewriting input method for high accuracy. In addition, unlike other business card management services, it is possible to automatically update the latest business card information such as transfer of teams or change in job title. It also has a function that allows users to transfer and store business cards using KakaoTalk or text messages. Remember is operating an input security system that divides card images into information units and then merges them. It adopts SSL communication security protocols to acquire the same level of VeriSign certification as the world’s 100 largest banks for its cloud based management services.

This year, Remember has introduced a networking lounge on the platform to help users exchange business contacts, a business messenger for communication, and a gift function for exchanging gifts with each other. Naver decided to invest in Drama & Company for its accumulated know-how in business card processing technology and visual cognitive data.

This article, entitled “Business card service developer Drama & Company receives USD 4.5M from Naver”, was written in Korean by Yohan Son of Platum, edited by AllTechAsia.

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