South Korea-based enterprise communications platform developer Toss Lab has secured $5.2m in a funding round led by SBI Investment, a venture capital subsidiary of financial SBO services firm SBI Group, AllTechAsia has reported.
Daekyo Investment, a subsidiary of educational technology provider Daekyo, also participated in the round, as did Evergreen Investment Partners and the state-owned Korea Development Bank.
Founded in 2014, Toss Lab operates a cloud-based occupational messaging platform for businesses called Jandi that facilitates group communication, collaboration and project management together, and which includes data search and archiving tools.
The funding will help Toss Lab scale its business growth and enhance the services it offers. Toss Lab’s last round was a $1.7m series A in March 2017 co-led by VC firm Ascent Capital Advisors and angel investor Shin Hyun Sung.
Mobile semiconductor producer Qualcomm’s corporate venturing vehicle, Qualcomm Ventures, joined Hnap to invest $2.5m in Toss Labs in 2016, following a $2m round in 2014 co-led by Softbank Ventures, a subsidiary of telecommunications group Softbank, and Cherubic Ventures.