BusinessOn Communication Co., Ltd.

Based in South Korea, BusinessOn Communication specializes in cloud-based solutions for electronic document distribution and business management, supporting SMEs with efficient tools for tax invoicing and human resource management. BusinessOn Communication Co. , Ltd. operates in the realm of electronic document distribution and business management solutions.

Founded in 2007 in Seoul, South Korea, the company has executed 4 total deals, with its most recent deal occurring on November 30, 2017. In this Public to Private round, BusinessOn raised KRW 96,214. 169 million from SkyLake Equity Partners, which constitutes its total fundraising to date. The company's founder's history and any previous ventures are not disclosed.

BusinessOn Communication Co. , Ltd. offers a comprehensive suite of cloud-based solutions primarily focused on electronic document distribution and business management. Their flagship product, SmartBill, operates as a B2B platform that facilitates efficient management of electronic tax invoices, contracting processes, and comprehensive human resource management, including attendance tracking and workforce management.

Aimed at small to medium-sized enterprises (SMEs) across various industries, SmartBill supports over 4 million businesses in South Korea, providing a centralized solution that integrates purchasing, sales, and marketing functions. The company's services extend beyond domestic borders, catering to international markets with a focus on enhancing operational efficiency and reducing transaction risks. BusinessOn also emphasizes data privacy and security, ensuring that customer information is handled with strict confidentiality, thereby fostering trust with their diverse client base. BusinessOn generates revenue through a subscription-based model, where clients pay for access to its suite of solutions, including electronic invoicing and contract management services.

The transactional structure typically involves B2B partnerships, where businesses subscribe to SmartBill to streamline their operations and improve workflow efficiency. Additionally, the company potentially engages in targeted advertising within its platform, allowing clients to reach specific audiences based on industry and geographical parameters, facilitating effective marketing campaigns. The pricing plans for their services encompass various tiers, tailored to the needs of different client sizes and operational requirements, which ensures accessibility for a wide range of businesses. In 2023, BusinessOn reported a revenue of KRW 39,133.

863 million and an EBITDA of KRW 14,588. 099 million. In November 2017, BusinessOn Communication Co. , Ltd.

raised KRW 17. 08 billion in an initial public offering, selling 1. 89 million shares at KRW 9,000 per share. The company plans to leverage recent funding to enhance its product offerings and expand its presence in international markets.

Specific upcoming products are in the design phase, with a focus on increasing operational efficiencies for its client base. BusinessOn aims to penetrate additional markets in Southeast Asia by 2024, taking advantage of the growing demand for cloud-based solutions in the region.