Bespin Global Valuation, Funding & Investors

Bespin Global is valued at $600M as of December 2022.

Last Bespin Global valuation

$600M

Series D · Dec 2022

Last Bespin Global funding round

$60M

Series D · Dec 2022

Cumulative funding Bespin Global raised

$254M

across 5 funding rounds

Key investors in Bespin Global

Bespin Global Overview

About Bespin Global

Seoul-based Bespin Global offers hybrid cloud consulting, migration, and managed services leveraging AWS, Microsoft Azure, and Flexcloud. Partnering with Hostway since 1998, the company delivers industry-specific architectures for finance, healthcare, and manufacturing sectors across Asia.


Founded

2015

HQ

South KoreaSeoul

Status

Privately held

Customer focus

B2B

Revenue model

Services, Subscription

Valuation

$600M (Dec 2022)

Bespin Global Valuation

Bespin Global is currently valued at $600M, based on its Series D in December 2022.

The $60M round was led by e&, with participation from STIC Investments.

Bespin Global valuation by funding round

Bespin Global valuation by funding round
DateStageValuation
Dec 2022Series D$600M

Bespin Global Funding History

Bespin Global has raised a total of $254M across 5 funding rounds.

Bespin Global's first fundraising round was a $15M Series A in July 2017. The most recent completed round was a $60M Series D in December 2022.

Bespin Global funding rounds

Bespin Global funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2022Series De& (lead); STIC Investments$60M$600MBespin Global, a Seoul-based cloud management and consulting company specializing in cloud migration, operations, native application development, optimization, and billing, secured a primary investment of $60 million from e& Enterprise (formerly Etisalat Digital), a UAE-based digital transformation services provider and unit of e&. This investment, announced on December 12, 2022, granted e& Enterprise approximately a 10% stake in Bespin Global and a board seat, with an option for an additional $60 million investment within 18 months. The deal also involved forming a joint venture for cloud managed and professional services in the Middle East, North Africa, and Pakistan (METAP region), 65% owned by e& Enterprise and 35% by Bespin Global, with initial $10 million capital contributions each and up to $40 million in shareholder loans from e&. Bespin Global also signed terms for $155 million in additional investments from existing shareholders, including STIC Investments, bringing total commitments over $100 million beyond the primary investment. The partnership leverages e& Enterprise's local market presence, customer relationships, and digital solutions with Bespin Global's deep cloud expertise to accelerate cloud adoption in METAP, where enterprise digital transformation is surging. Bespin Global, serving over 1,700 customers across South Korea, China, Japan, Singapore, Vietnam, Indonesia, and the US, aims to expand globally and profitably using the funds. CEOs John HanJoo Lee of Bespin and Salvador Anglada of e& Enterprise highlighted the synergy for building future cloud businesses and extending cloud offerings to governments and enterprises in the UAE. The investment validates Bespin Global's track record as a trusted global cloud managed services provider, enabling access to technologically advanced markets like South Korea while supporting growth in emerging cloud regions.
Jun 2020Series CDY$75M-Bespin Global is a cloud management platform company that has raised a total of $292.02M across multiple rounds from 9 investors. Investors include DY Holdings (a South Korean holding company), e& Enterprise, SK Telecom, Singapore Technologies Telemedia, and Legend Capital, among others. A corporate minority round on 12/12/2022 of $100M led by e& Enterprise.
Oct 2018Series BDY (lead); ST Telemedia (lead)$77M-Bespin Global is a South Korea and Beijing-based managed services and cloud operations company focused on helping enterprises migrate from legacy IT to cloud IT, headquartered in Korea and China. ST Telemedia participated as a lead investor in a financing round completed in January 2018 to accelerate Bespin Global's cloud management platform development and customer growth. Earlier reports from February 2018 confirm ST Telemedia's investment in the firm, described as a stake in the managed third-party cloud and IT services provider.
Jan 2018Series AST Telemedia (lead); Legend Capital$27M-Bespin Global is a cloud management company headquartered in Seoul, South Korea, and Beijing, China, specializing in helping enterprise customers adopt cloud services, migrate from legacy IT to cloud IT, and optimize performance, security, and cost savings. At the time of the January 31, 2018 funding announcement, the company served over 190 enterprise customers, including some of the world's largest companies, across private and public cloud operations in Korea and China. It operates as a fully localized company in each market, particularly noted for success in China with world-class customers and employees. On January 31, 2018, Bespin Global closed a US$27 million investment round led by ST Telemedia, with participation from existing investors including Legend Capital. ST Telemedia, a Singapore-based firm focused on technology infrastructure and software, acted as the lead investor to advance its strategy in next-generation enterprise services platforms. Joon Sung Park, board member from Legend Capital, expressed continued confidence in Bespin Global's unique positioning and growth potential. The fresh capital was earmarked to accelerate development of Bespin Global's cloud management platform and expand customer adoption in Asia, enabling more enterprises to power digital transformation through cloud. CEO John Hanjoo Lee highlighted the strategic partnership with ST Telemedia for its investment expertise and deep cloud industry knowledge.
Jul 2017Series ALegend Capital (lead); HYOSUNG ITX Co; Premier Partners; Altos Ventures$15M-Bespin Global, founded in 2010 and based in Liberty Lake, Washington (formerly known as 2nd Watch), is a cloud delivery platform company specializing in AI management services and multi-cloud operations. The company provides cloud migration, deployment, operation, management, DevOps, and optimization services across AWS, Microsoft Azure, Google Cloud, and other cloud providers, serving customers in financial services, legal, manufacturing, media, retail, and public sector industries. In July 2017, Bespin Global raised $15 million in a Series A funding round led by Legend Capital, alongside investors including Altos Ventures, HYOSUNG ITX, and Premier Partners. The company has demonstrated consistent growth, achieving nine consecutive years of double-digit revenue expansion and expanding its global footprint across North America, the Middle East, Southeast Asia, Japan, and China. By 2024, the company recorded consolidated revenue of 463.7 billion won with operating profit of 180 million won, while its U.S. subsidiary achieved 93 billion won in revenue with 62% year-over-year growth, positioning Bespin Global as a recognized leader in cloud transformation services and earning recognition as a Visionary in the Gartner Magic Quadrant.

Who has invested in Bespin Global?

8 investors have backed Bespin Global across its funding rounds, including Legend Capital, ST Telemedia, DY, Altos Ventures, Premier Partners and STIC Investments.

Lead investors include e&, DY, ST Telemedia and Legend Capital.


Bespin Global Investors

Investors in Bespin Global by funding rounds participated
InvestorHQRoundsRoleFirst check
ST TelemediaSingaporeSingapore2LeadJan 2018
DYSouth KoreaSeoul2LeadOct 2018
Legend CapitalChinaBeijing2LeadJul 2017
STIC InvestmentsSouth KoreaSeoul1ParticipantDec 2022
HYOSUNG ITX CoSouth KoreaSouth Korea1ParticipantJul 2017
e&UAEAbu Dhabi1LeadDec 2022

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Bespin Global Competitors

Bespin Global competitors include listed companies like Baudroie, Plus Alpha Consulting, Edarat Group and Inspur, and private ones like Defense Unicorns and UPSTACK.

Public and private companies comparable to Bespin Global
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BaudroieJapanJapanPublicly listed$112M$24M$595M4.3x
Plus Alpha ConsultingJapanJapanPublicly listed$110M$36M$572M3.8x
Edarat GroupSaudi ArabiaSaudi ArabiaPublicly listed$51M$12M$550M-
InspurChinaChinaPublicly listed$172M($31M)$704M2.7x
Defense UnicornsUnited StatesColorado Springs, COPrivate--$1B-
UPSTACKUnited StatesNew York City, NYPrivate--$211M-

Bespin Global Public Comps

Bespin Global is still privately-owned, but its public comps include Xinjiang Sailing Inf, Baudroie, AvenuesAI, Meeza QSTP, Atos, Altron, Plus Alpha Consulting, Argo Graphics, Daou Data and ExaWizards.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Xinjiang Sailing Inf$33M($2M)17.5x-(259.0x)-
Baudroie$112M$24M5.2x4.3x24.7x21.0x
AvenuesAI$846M$39M0.6x-13.4x-
Meeza QSTP$111M$33M6.3x5.5x20.9x17.4x
Atos$9.2B($498M)0.3x0.3x(5.7x)3.3x
Altron$593M$94M1.1x1.1x7.1x5.0x
Plus Alpha Consulting$110M$36M4.2x3.8x12.9x9.4x
Argo Graphics$460M$177M0.9x0.9x2.3x-

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Common questions about Bespin Global

When was Bespin Global founded?Bespin Global was founded in 2015.
Where is Bespin Global headquartered?Bespin Global is headquartered in Seoul, South Korea.
Is Bespin Global publicly listed?No, Bespin Global is a private, VC-backed company.
What is Bespin Global's valuation?Bespin Global was last valued at $600M in its Series D in December 2022.
How much funding has Bespin Global raised?Bespin Global has raised $254M across 5 funding rounds.
What was Bespin Global's last funding round?Bespin Global's last funding round was a $60M Series D in December 2022, led by e&.
Who are Bespin Global's investors?Bespin Global's investors include ST Telemedia, DY, Legend Capital, STIC Investments, HYOSUNG ITX Co, e&, Premier Partners and Altos Ventures.
Which companies are comparable to Bespin Global?Companies comparable to Bespin Global include Baudroie, Plus Alpha Consulting, Edarat Group, Inspur, Defense Unicorns and UPSTACK.

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