Korean unicorn startup Megazone Cloud Corp., a leading managed cloud service provider (MSP), attracted 450 billion won ($343 million) Series C investment from MBK Partners and IMM Private Equity. The latest investment makes Megazone Cloud’s value 2.4 trillion won. The investment gives MBK and IMM PE about a 10 % stake in Megazone Cloud.
In February 2022, Megazone Cloud had received a 130 billion won investment from Korea’s second-largest telecom operator KT Corp., which had raised its status to a billion-dollar company.
Megazone Cloud offers cloud service, design, embedment, and operation services to more than 3700 corporate clients. It has offices in South Korea, the US, China, Canada, Japan, Hong Kong and Vietnam. The startup’s corporate value had soared compared to June 2021, when it got Series B funding.
The startup came to the spotlight when it became the first Korean partner of Amazon Web Service (AWS) in 2012. The startup is a spin-off from parent Megazone Corporation, formed in 2018. Megazone Cloud is now preparing for an IPO launch in 2023. It has appointed KB Securities Co. as the bookrunner for its public offering on the Korean bourse.
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