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- Barogo
Barogo Valuation, Funding & Investors
Barogo is valued at $294M as of January 2022.
Last Barogo valuation
$294M
Series C · Jan 2022
Last Barogo funding round
$42M
Series C · Jan 2022
Cumulative funding Barogo raised
$150M
across 5 funding rounds
Key investors in Barogo
Korea Investment Partners
Shinhan Capital
LB Investment
Shinhan Venture Investment
Premier Partners
STIC Ventures
About Barogo
Barogo is a Seoul-based last-mile delivery platform connecting businesses and customers in South Korea. Launched in 2014, it integrates riders, merchants, and e-commerce sites for same-day fulfillment of groceries, meals, and parcels. Barogo operates in major cities with a fleet of 20,000 couriers handling millions of orders monthly.
Founded
2014
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Commission
Valuation
$294M (Jan 2022)
Barogo Valuation
Barogo is currently valued at $294M, based on its Series C in January 2022.
The $42M round was led by Keistone Partners.
Barogo's valuation has moved from $315M at its Series C in June 2021 to $294M in January 2022, across 2 priced rounds.
Barogo valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Jan 2022 | Series C | $294M |
| Jun 2021 | Series C | $315M |
Barogo Funding History
Barogo has raised a total of $150M across 5 funding rounds.
Barogo's first fundraising round was a $19M Series A in May 2018. The most recent completed round was a $42M Series C in January 2022.
Barogo funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Series C | Keistone Partners (lead) | $42M | $294M | Barogo is a South Korean company that received a $42M investment from Keistone Partners in January 2022. This followed cumulative funding of $100M by the end of 2021. The investment aligns with the specified round details including Keistone Partners as lead investor. Post-money valuation stood at $294M as of June (likely 2021 based on report timing). Earlier, Barogo had secured 90 billion KRW (~$75M USD equivalent at typical rates) in prior funding last year, with this 50 billion KRW (~$42M) round adding to its capital. Lead investors in prior rounds included CJ, Delivery Hero, and 11st. |
| Dec 2021 | Series C | PacificBridge Asset Management (lead) | $8M | - | Barogo raised $8.43 million in a bridge round on December 15, 2021, led by PacificBridge Asset Management with undisclosed co-investors. |
| Jun 2021 | Series C | 11Street; STIC Ventures; Korea Investment Partners; YG Investment; Premier Partners; LB Investment; CJ CheilJedang; Shinhan Venture Investment | $71M | $315M | Barogo is a South Korean company operating in the mobility sector, likely focused on ride-hailing or delivery services given its funding history and investments. It has raised a total of $159.83M across 8 funding rounds from 16 investors. Subsequent rounds include a Bridge on December 15, 2021, and a Private Equity round of $42.15M on January 13, 2022. Barogo has made investments such as a $1.88M Seed VC in Fooding on August 18, 2022, indicating expansion into related sectors. |
| Jun 2019 | Series B | Technology Guarantee Fund; Timepolio Asset Management; Kudos Ventures; Shinhan Capital; Korea Technology Finance Corporation; Timewise Investment | $10M | - | - |
| May 2018 | Series A | Yogiyo (lead) | $19M | - | Barogo is a logistics IT platform service provider based in South Korea. On May 23, 2018, Barogo closed a Series A funding round led by Yogiyo, a food delivery company, raising $18.53M with five co-investors participating. This investment marked Yogiyo's entry into venture capital activities, representing the company's efforts to expand beyond its core food delivery business into related logistics infrastructure. By February 2021, Barogo's valuation had grown to $314.86M. The company subsequently raised additional capital, including an 80 billion won ($72 million) Series C round by mid-2021, and a $42.15M private equity round in January 2022, bringing total funding to $159.83M across eight rounds from 16 investors. Barogo has itself made strategic investments, notably participating in the Series A funding of Fooding in August 2022 with an $1.88M investment. |
Who has invested in Barogo?
17 investors have backed Barogo across its funding rounds, including Korea Investment Partners, Shinhan Capital, LB Investment, Shinhan Venture Investment, Premier Partners and STIC Ventures.
Lead investors include Keistone Partners, PacificBridge Asset Management and Yogiyo.
Barogo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Lead | Dec 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2019 | ||
| 1 | Lead | May 2018 | ||
| 1 | Participant | Jun 2021 | ||
| 1 | Participant | Jun 2021 | ||
This data is available for Pro users. Sign up to see all 17 Barogo investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Barogo
Barogo has acquired 2 companies to date.
Last acquisition by Barogo was on February 1st 2023. Barogo acquired Dealver for undisclosed valuation.
Latest Acquisitions by Barogo
| Description | Dealver is a Seoul-based delivery service provider in South Korea offering a nationwide network and online platform for fast logistics. It specializes in last-mile delivery for e-commerce shipments, partnering with retailers in fashion and groceries to handle high-volume orders with real-time tracking and same-day options in urban areas. | Dronix is a Seoul-based cybersecurity firm that develops software reliability solutions for complex environments in South Korea. The company provides testing and prevention tools for mission-critical systems in defense, finance, and manufacturing, focusing on fault detection in real-time operating systems and embedded devices. |
| HQ Country | ||
| HQ City | Seoul | Seoul |
| Deal Date | 1 Feb 2023 | 5 Jul 2022 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Barogo acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by Barogo
Barogo has invested in 1 company to date.
Latest investment by Barogo was on August 18th 2022. Barogo invested in Fooding in their $2M Seed round.
Latest Investments by Barogo
| Description | Fooding is a corporate meal delivery platform at https://www.fooding.io/ serving large enterprises, clinics, and SMEs with breakfast, lunch, dinner, snacks, salads, fruits, beverages, event catering, and lunchboxes. Customers subscribe to monthly plans tailored to business needs across Europe. |
| HQ Country | |
| HQ City | Seoul |
| Deal Date | 18 Aug 2022 |
| Round | Seed |
| Raised | $2M |
| Investors | Nau IB Capital |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Barogo investments and their VC round multiples. Start Free Trial | |
Barogo Competitors
Barogo competitors include listed companies like Logory and K&S Corp, and private ones like Airlift Technologies, Cheetah, Fetchr and Sabi Am.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $90M | - | $275M | 3.1x | ||
| Private | $111M | - | $180M | 1.6x | ||
| Private | - | - | $300M | - | ||
| Private | - | - | $300M | - | ||
| Publicly listed | $676M | $11M | $53M | - | ||
| Publicly listed | $530M | $65M | $292M | - |
Barogo Public Comps
Barogo is still privately-owned, but its public comps include K&S Corp, Kingston Wharves, Maritima de Inversiones, bpost, Transport Trade Services, Accel, JSL SA, Waberer's Group, Eimskipafelag Islands and Hargreaves Services.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $530M | $65M | 0.7x | - | 5.6x | - | |||
| $80M | $34M | 3.4x | - | 8.2x | - | |||
| $4M | - | 0.0x | - | - | - | |||
| $5.1B | $570M | 0.4x | 0.5x | 4.0x | 3.7x | |||
| $142M | $20M | 2.2x | 2.0x | 16.2x | 10.9x | |||
| $887M | $125M | 0.8x | - | 5.4x | - | |||
| $1.9B | $383M | 0.8x | 0.8x | 4.1x | 4.3x | |||
| $940M | $120M | 0.4x | - | 3.3x | - | |||
This data is available for Pro users. Sign up to see all Barogo competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Barogo
| When was Barogo founded? | Barogo was founded in 2014. |
| Where is Barogo headquartered? | Barogo is headquartered in Seoul, South Korea. |
| Is Barogo publicly listed? | No, Barogo is a private, VC-backed company. |
| What is Barogo's valuation? | Barogo was last valued at $294M in its Series C in January 2022. |
| How much funding has Barogo raised? | Barogo has raised $150M across 5 funding rounds. |
| What was Barogo's last funding round? | Barogo's last funding round was a $42M Series C in January 2022, led by Keistone Partners. |
| Who are Barogo's investors? | Barogo's investors include 11Street, STIC Ventures, Technology Guarantee Fund, Timepolio Asset Management, Korea Investment Partners, Keistone Partners, PacificBridge Asset Management, YG Investment, Premier Partners, Kudos Ventures and 7 others. |
| Which companies are comparable to Barogo? | Companies comparable to Barogo include Airlift Technologies, Cheetah, Fetchr, Sabi Am, Logory and K&S Corp. |
| How many companies has Barogo acquired? | Barogo has acquired 2 companies, including Dealver and Dronix. |
| How many companies has Barogo invested in? | Barogo has invested in 1 company, including Fooding. |
| What was Barogo's last investment? | In August 2022, Barogo invested in Fooding's $2M seed round alongside Nau IB Capital. |
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