Based in the bustling capital city of Seoul, Korean startup Contactus, operating under the brand Doongji is transforming the management of small to mid-sized buildings with its innovative AI and AIoT solutions. Since its founding in 2021, Doongji has swiftly become Korea’s leading property management company specializing in small-sized buildings, offering unparalleled services aimed at enhancing the value and profitability of commercial real estate (CRE) properties.
In April 2024, Doongji secured KRW 2 billion in series A funding led by Capstone Partners, with participation from Shinhan Venture Investment. This funding marks a significant milestone, enabling Doongji to further develop its smart building management solutions and expand its market presence.
Addressing a Critical Gap in Building Management
Small buildings, which make up 90% of the 470,000 commercial buildings in Korea, often face significant management challenges. Unlike large buildings that benefit from systematic management, small to mid-sized buildings are typically managed by their owners, leading to issues such as high costs of hiring custodians, lack of expertise, and long idle times for maintenance.
Doongji addresses these challenges with its smart building management solution, the “Base System.” This platform uses AI and AIoT technologies to streamline building management processes, offering several key advantages:
- Immediate Response and Cost Savings: Specialists are dispatched from the base to the building within 24 hours, ensuring prompt issue resolution and cost efficiency.
- Enhanced Professionalism: The system stabilizes employment and professional service delivery.
- Comprehensive Platform: The Doongji app allows users to report issues, which are then managed and resolved through the platform. This system also secures data such as visit records and optimizes service routes.
- End-to-End Solutions: From building purchase to management and sale, Doongji provides a seamless, virtuous cycle process for property management. The company also offers monthly reports, payment management, rental services, and real-time status updates on civil complaints.
- Advanced Technology Integration: By integrating AI, AIoT, and big data, Doongji develops AI algorithms that enhance issue resolution and operational efficiency. The company has also partnered with Shinhan Bank to create virtual accounts, automating monthly rent and management cost processes.
Looking ahead, Contactus aims to establish overseas operations and build brand wealth through ambassador selection and TV advertising. The company plans to extend its building management services to Japan, Singapore, and Vietnam and launch IoT-based unmanned building management services. To support these initiatives, Doongji is securing research funds through a series of investments, and strengthening unmanned services via mobile apps, AI, and IoT. The company is also focused on market validation and initial customer acquisition with its MVP and continuously improving in-service inconveniences through customer feedback.
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