Service Canvas, a South Korean file management SaaS business behind Typed, announced today it has raised a $2.5 million seed round led by Mirae Asset Endeavor Investment, with participation from Kakao Ventures and Nextrans Inc.
The seed round will be utilized for speeding up product advancement and international launch of open beta for its AI-powered document management platform. The business opened a workplace in Santa Clara, California this year to spur its worldwide expansion.
Individuals are bombarded with details thanks to advances in technology that opens the doors to a wealth of info, however at the very same time, excessive details and a big amount of information at one time leave the users puzzled and/or not able to make timely decisions.
Organization Canvas, founded in July 2020 by CEO Woojin Kim, Brian Shin, Seungmin Lee, Dongjoon Shin and Clint Yoo, is intending to solve the difficulty that every understanding employee and writer faces: investing more time on research and file organization than the actual content output they require to develop.
“In fact, people commit over 30% of their working hours attempting to look for that file we when conserved in a folder that we just can not find any longer,” Organization Canvas CEO and co-founder Kim stated.
Through a network that wisely tracks and organizes files based on the user’s interactions, Typed brings all the knowledge from different websites and applications into one simple-to-use and quick-to-learn digital workspace.
Strictly keeping its users’ info and their confidential files continuous, Typed does not access the content of users’ files but use them as artificial intelligence information in order to protect their information and data, Kim told TechCrunch. It simply collects users’ action driven data point and openly offered metadata of files and resources under users’ authorization, Kim added.
“Modern document writing has not altered considering that the 1980s,” Service Canvas co-founder Clint Yoo stated. “While we have more knowledge at our fingertips than ever in the past, we use the exact same fundamental methods to organize and make sense of it. We want any author– from attorneys and entrepreneurs to scientists and students– to concentrate on developing fantastic content instead of wasting time arranging their source product. We achieved this by making knowledge management more like the method our brain runs.”
Given that the launch of the closed beta test in February 2021, Typed saw significant user growth including more than 10,000 users on the waitlist, with 25,000 files submitted and 350% month-over-month active user growth, the business stated in its statement. Typed will be available through a freemium design and is presently accepting beta registrations on its site.
“When we have actually checked our closed beta, our metrics show top traction amongst students in addition to legal representatives, reporters and authors, who need heavy research study and document deal with a regular basis. We opened gain access to previously this month for the waitlists in over 50 countries. These are primarily B2C users,” Kim told TechCrunch. “As for B2B, we are presently in the process of proof-of-concept (POC) for among the largest conglomerates in South Korea. Smaller groups like startups, shop law, seeking advice from companies, venture capitals and federal government organizations also have actually been adopting Typed also.”
“While the business is still in its nascent phase in its development, Typed has the prospective to essentially alter how we work individually or as a team. It’s them [there is a service to take on our outdated method of writing content Typed],” Shina Chung, Kakao Ventures CEO stated.
The global market size for social software and partnership SaaS is approximated at $4.5 billion in 2021, increasing over 17% year on year, Kim said.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.