South Korean AI services platform Wrtn Technologies said on Wednesday it had raised around 100 billion won ($72.2 million) in a Series C funding round that valued the company at more than 1 trillion won ($722 million).
The round brings Wrtn’s total fundraising to about 230 billion won ($166 million), the company said.
New investors included Coreline Ventures and Eugene Asset Management, alongside existing backers including Goodwater Capital and Korea Development Bank.
Wrtn said its North American-focused AI entertainment platform OOC surpassed 10 billion won ($7.22 million) in monthly revenue within three months of its May launch.
Wrtn expects total revenue this year to exceed 200 billion won, compared with 47.1 billion won last year.
The company said it would use the funding to expand overseas and improve its services.
It is also preparing tighter safeguards for teenage users of its AI entertainment platform Crack, including time-use limits, stronger parental consent procedures and lower spending caps.
($1 = 1,385.3100 won)
Reuters
