ABLY Corporation Revenue, Valuation, Funding & Investors

ABLY Corporation is valued at $2.1B as of December 2024, a 8.7x multiple on its last reported $239M revenue.

Last ABLY Corporation valuation

$2.1B

Strategic investment · Dec 2024

Last ABLY Corporation funding round

$69M

Strategic investment · Dec 2024

ABLY Corporation revenue

$239M

Strategic investment · Dec 2024

Key investors in ABLY Corporation

ABLY Corporation Overview

About ABLY Corporation

ABLY Corporation is a Seoul-based fashion tech company offering a resale platform and mobile app for second-hand luxury goods. It authenticates items from brands like Gucci and Louis Vuitton using AI scanning, serving 2 million users in South Korea with live auctions and delivery services since 2017.


Founded

2015

HQ

South KoreaSeoul

Website

a-bly.com

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Revenue

$239M (Dec 2024)

Valuation

$2.1B (Dec 2024)

ABLY Corporation Valuation

ABLY Corporation is currently valued at $2.1B, based on its strategic investment round in December 2024.

The $69M round was led by Alibaba Group.

ABLY Corporation's valuation has grown 10x from $201M at its Series A in June 2019 to $2.1B in December 2024, across 5 priced rounds.

ABLY Corporation valuation by funding round

Revenue multiple
ABLY Corporation valuation by funding round
DateStageValuationRevenue Multiple
Dec 2024Strategic investment$2.1B8.7x
Feb 2022Series C$751M5.9x
Jun 2021Series B$356M-
Sep 2020Series B$255M-
Jun 2019Series A$201M-

ABLY Corporation Revenue

ABLY Corporation's latest recorded revenue is $239M, as of its strategic investment round in December 2024. At a $2.1B valuation, that implies a 8.7x revenue multiple.

Revenue grew from $128M in February 2022 to $239M in December 2024, while the revenue multiple moved from 5.9x to 8.7x.

ABLY Corporation revenue by funding round

ABLY Corporation revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Dec 2024$239M$2.1B8.7xStrategic investment
Feb 2022$128M$751M5.9xSeries C

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

ABLY Corporation Funding History

ABLY Corporation has raised a total of $218M across 5 funding rounds.

ABLY Corporation's first fundraising round was a $6M Series A in June 2019. The most recent completed round was a $69M strategic investment round in December 2024.

ABLY Corporation funding rounds

ABLY Corporation funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2024Strategic investmentAlibaba Group (lead)$69M$2.1BABLY Corporation operates South Korea's leading style commerce platforms, including the women's fashion app ABLY, men's fashion marketplace 4910, and global platform Amood, leveraging proprietary AI-driven recommendation algorithms developed over 15 years for personalized user experiences. Founded in 2018, ABLY has rapidly expanded, supporting Korean sellers in North America and Southeast Asia, and introducing services like Ably Pay for seamless payments. In December 2024, Alibaba Group led ABLY's funding round with a KRW 100 billion (~$71.4 million USD) investment, acquiring a 5% stake and elevating the company's post-money valuation to KRW 3 trillion (~$2.1 billion USD), marking it as South Korea's first unicorn startup of 2024. This valuation represents a surge from its prior 900 billion KRW level during a January 2022 pre-Series C round of 67 billion KRW, a 3.5x increase in two years. The deal is Alibaba's first equity investment in a Korean shopping app platform. ABLY's traction includes transaction volume growth from KRW 700 billion ($499.8 million) in 2021 to KRW 2 trillion ($1.4 billion) in 2024, defying a frozen investment climate. The company plans to use funds to enhance product capabilities, recommendation technology, UI/UX, and invest in new businesses including fintech and global expansion. CEO Kang Seok-hoon highlighted the firm's technological prowess and big data as keys to sustaining leadership in recommendation-based style commerce amid competition from players like Naver's Kream.
Feb 2022Series CShinhan Financial Group (lead); SV Investment; LB Investment; InterVest Co.; Capstone Partners; Kolon Investment$56M$751MABLY Corporation is a South Korean online shopping platform specializing in women's fashion, with expansions into home decor, handmade products, cosmetics, fulfillment solutions like ABLY Partners, and new ventures such as 4910, Amood, and fintech. Founded in 2018 and headquartered in Seoul, it operates as a leading women's fashion platform, achieving USD 1.43 billion in transactions on ABLY alone in 2024, up over 30% year-over-year, and total transaction volume of USD 1.79 billion. The company reported 2022 revenue of USD 127.50 million (KRW 178.5 billion), nearly double from USD 66.79 million in 2021, followed by USD 238.79 million in 2024, a 30% increase. Product revenue from ABLY Partners grew to USD 103.64 million in 2024 from USD 90.21 million prior year. In 2023, ABLY achieved its first operating profit of USD 2.36 million, fully distributed as incentives, leading to a company-wide operating loss of USD 11 million. ABLY demonstrated strong traction post-2022, with transaction volumes surging 3.6-fold from USD 500 million in 2021 to USD 1.79 billion in 2024, positioning it as the first women's fashion platform to reach the KRW 2 trillion (USD 1.43B) transaction club. Revenue growth reflected platform expansion and fulfillment services. The company plans mid-to-long-term investments to enhance competitiveness in core fashion and faster-growing new sectors amid aggressive global growth ambitions.
Jun 2021Series BSTIC Ventures; Smilegate Investment; L&S Venture Capital; SV Investment; Premier Partners; InterVest Co.; Capstone Partners; Stick Ventures$55M$356MABLY Corporation, founded in 2018 by Watcha co-founder Kang Seok-hoon, operates the women's fashion platform ABLY, men's fashion platform 4910, and Japanese fashion mall Amood. It is a smart commerce platform using AI algorithms to recommend personalized fashion items based on customers' styles and interests, expanding into home decoration, handmade goods, and cosmetics. In 2020, ABLY became the most popular fashion app by monthly active users in South Korea. On June 2, 2021, ABLY raised 62 billion won ($55.7 million) in a Series B extension round from SV Investment, Premiere Partners, Intervest, STIC Ventures, Smilegate Investment, Capstone Partners, and L&S Venture Capital, bringing total Series B funding to 99 billion won after a prior 27 billion won raise in July 2020 from including Korea Development Bank and Signite Partners, plus an additional 10 billion won. Overall, the company had raised 106 billion won including a 7 billion won Series A in 2019. Proceeds were allocated to accelerate global expansion, enhance AI preference recommendation systems, and improve fulfillment services. CEO Kang Seok-hoon stated the investment would solidify ABLY's position as a leader in smart commerce by refining personalized fashion algorithms. A December 2024 Series C from Alibaba valued ABLY at $2.16-2.25 billion post $75 million investment, marking unicorn status, but distinct from the 2021 round.
Sep 2020Series BSignite Partners; Neoplux; Korea Development Bank; LB Investment; Kolon Investment$31M$255M-
Jun 2019Series ALB Investment; Kolon Investment$6M$201MABLY Corporation operates the fashion platform Ably, which offers celebrity-designed styles, personalized recommendations via big data, and tools for individuals to open shopping malls. Founded in 2015, it debuted the Ably app in March 2018 and grew to 4.2 million monthly active users with 400 billion KRW annual GMV. The company raised 7 billion KRW in its Series A round in 2019 and a total of 37 billion KRW in September 2020 from investors including Korea Development Bank, LB Investment, and Kolon Investment at an enterprise value of 300 billion KRW. In 2020, ABLY posted 52.6 billion KRW in revenue, up 66% year-over-year, though it recorded an operating loss of 38.4 billion KRW. Last July before the 2021 fundraising news, it was selected as a pre-unicorn by the Ministry of SMEs and Startups.

Who has invested in ABLY Corporation?

15 investors have backed ABLY Corporation across its funding rounds, including LB Investment, Kolon Investment, Capstone Partners, InterVest Co., SV Investment and Korea Development Bank.

Lead investors include Alibaba Group and Shinhan Financial Group.


ABLY Corporation Investors

Investors in ABLY Corporation by funding rounds participated
InvestorHQRoundsRoleFirst check
LB InvestmentSouth KoreaSouth Korea3ParticipantJun 2019
Kolon InvestmentSouth KoreaSeoul3ParticipantJun 2019
SV InvestmentSouth KoreaSeoul2ParticipantJun 2021
InterVest Co.South KoreaSeoul2ParticipantJun 2021
Capstone PartnersSouth KoreaSeoul2ParticipantJun 2021
STIC VenturesSouth KoreaSeoul1ParticipantJun 2021
Smilegate InvestmentSouth KoreaSeongnam1ParticipantJun 2021
Signite PartnersSouth KoreaSeoul1ParticipantSep 2020
NeopluxSouth KoreaSeoul1ParticipantSep 2020
Korea Development BankSouth KoreaSeoul1ParticipantSep 2020
Shinhan Financial GroupSouth KoreaSeoul1LeadFeb 2022
L&S Venture CapitalSouth KoreaSeoul1ParticipantJun 2021
Premier PartnersSouth KoreaSeoul1ParticipantJun 2021

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ABLY Corporation Competitors

ABLY Corporation competitors include listed companies like Meitu and Opera, and private ones like Calm, InMobi, The Bot Company and Voodoo.

Public and private companies comparable to ABLY Corporation
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CalmUnited StatesUnited StatesPrivate$300M-$2B6.7x
InMobiIndiaBangalorePrivate$1B-$2B2.0x
The Bot CompanyUnited StatesSan Francisco, CAPrivate--$2B-
MeituChinaChinaPublicly listed$575M$137M$2.2B2.6x
VoodooFranceParisPrivate$437M-$2B4.5x
OperaUnited StatesUnited StatesPublicly listed$615M$141M$1.6B2.1x

ABLY Corporation Public Comps

ABLY Corporation is still privately-owned, but its public comps include Welspun Living, Under Armour, Samsonite, Lao Feng Xiang, FIGS, Meitu, Youngone, Goldwin, F&F Co. and China National Gold Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Welspun Living$880M$80M2.5x2.1x27.8x20.3x
Under Armour$5B($61M)0.6x0.6x(50.8x)13.3x
Samsonite$3.5B$798M1.1x1.1x4.8x6.8x
Lao Feng Xiang$7.9B$500M0.2x0.2x2.9x3.5x
FIGS$631M$47M3.1x2.7x40.7x18.8x
Meitu$575M$137M3.0x2.6x12.5x9.6x
Youngone$3B$504M0.6x0.6x3.4x3.5x
Goldwin$884M$223M1.8x1.8x7.1x9.0x

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Common questions about ABLY Corporation

When was ABLY Corporation founded?ABLY Corporation was founded in 2015.
Where is ABLY Corporation headquartered?ABLY Corporation is headquartered in Seoul, South Korea.
Is ABLY Corporation publicly listed?No, ABLY Corporation is a private, VC-backed company.
What is ABLY Corporation's valuation?ABLY Corporation was last valued at $2.1B in its strategic investment round in December 2024.
How much funding has ABLY Corporation raised?ABLY Corporation has raised $218M across 5 funding rounds.
What was ABLY Corporation's last funding round?ABLY Corporation's last funding round was a $69M strategic investment round in December 2024, led by Alibaba Group.
Who are ABLY Corporation's investors?ABLY Corporation's investors include LB Investment, Kolon Investment, SV Investment, InterVest Co., Capstone Partners, STIC Ventures, Smilegate Investment, Signite Partners, Neoplux, Korea Development Bank and 5 others.
What is ABLY Corporation's revenue?ABLY Corporation's latest recorded revenue is $239M (December 2024).
What is ABLY Corporation's revenue multiple?ABLY Corporation's latest valuation implies a 8.7x revenue multiple ($2.1B valuation on $239M of revenue).
Which companies are comparable to ABLY Corporation?Companies comparable to ABLY Corporation include Calm, InMobi, The Bot Company, Meitu, Voodoo and Opera.

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