Korean startup Billyo operating creative space reservation app gets seed investment

Co-working spaces are taking on new dimensions as ‘creator’s economy’ gains ground. And startups that are offering diverse co-working solutions are getting investor attention. Korean startup Billyo that provides a creative space reservation service, has attracted seed investment from SparkLabs. The investment amount is confidential.

Billyo operates an app, which helps users reserve creative spaces like dance practice rooms, music practice rooms, recording studio, photography studio, and creator space. Currently, it is providing space reservation service in partnership with more than 3,000 dance practice rooms, music practice rooms, and filming studios nationwide. Despite the COVID-19 situation, the number of monthly reservations on Billyo has increased by 480% compared to last January. Billyo also runs a community platform to further appeal to the MZ generation audience.

Supporting the ‘Creator’s Economy’

Billyo aims to engage the power of K-Pop content popularity and support the MZ generation creators. Ahn Jun-hyeok, CEO of Billyo, said, “Now is the era of the ‘creator economy’ where anyone can pursue profits through their talents and creativity. We are familiar with the interactive form.” He also said. “We plan to provide a service that allows them to reserve the space they need based on more accurate information, and build it as a platform where they can not only practice in the space but also experience content creation and various opportunities.”

SparkLabs team leader Hwang Ha-Jeong, who led the investment, said, “The management and members of Billyo understand its users and have the ability to execute quickly. The number of reservations has been steadily increasing despite the ongoing Corona environment since last year. It has shown growth potential and is expected to contribute to further maximizing convenience and expanding the market through service advancement in the future.” Meanwhile, Billyo was selected for the 17th SparkLabs Accelerator Program this year and was also chosen for the NH Digital Challenge+ 5th Startup Program, NH Nonghyup Bank’s startup incubation program.

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