STARTUP FOCUS: Typed to launch in US to set new standard on digitalized work

Business Canvas Inc., an emerging B2B Software-as-a-Service (SaaS) solution provider in South Korea having raised near $2 million in latest seed funding and is set to launch its innovative all-in-one documentation tool Typed in the United States toward the end of the year.

Business Canvas pulled in 2 billion won ($1.8 million) from Mirae Asset Venture Investment, Kakao Ventures and Nextrans in May, pushing up its funding capacity to 2.25 billion won since founding in July 2020.

The funding owes to its latest innovation Typed, a document-driven knowledge management platform for businesses.

The cloud-based platform provides users a seamless documentation experience through its network of individual documents and resources stored in the cloud that learns their needs and behavior to ultimately make accurate recommendations of information. Its web extension function enables easy research and data collection and the split viewer allows users to write and view documents at the same time without a separate viewer program.

The closed beta version of Typed was named as “Product of the Day” by Product Hunt, the Billboard for tech startups in March, and the company was shortlisted as a Korean representative for global startup PITCH competition held by Collision, North America’s fastest-growing tech conference.

D'LIGHT Law Group, a South Korean law firm who has been consulting Business Canvas, adopted Typed for its internal system in April.

"When I saw Typed's work, I immediately joined the proof-of-concept (POC) because it was very useful for law firms. The service itself was great, but it was also reassuring to see the passion and attitude of the Typed members. I'm sure we'll see Typed in the global news in the near future," said Cho Won-hee, managing partner of D'LIGHT.

With the proceeds from the new funding, the company is planning to enter the North American market. It has recently set up a subsidiary in Silicon Valley and is preparing to launch the open beta service of Typed by the end of this year.

The global SaaS market is expected to reach $272.49 billion this year, expanding 20.8 percent from $225.6 billion in 2020 as businesses are putting digital collaboration at the forefront amid the Covid-10 pandemic.

Business Canvas aims to set a new standard in the growing field of digital workplace through collaborations with SaaS unicorns like Notion, Slack and Asana, the company said.

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