MegazoneCloud Valuation, Funding & Investors
MegazoneCloud is valued at $1.8B as of August 2022.
Last MegazoneCloud valuation
$1.8B
Series C · Aug 2022
Last MegazoneCloud funding round
$341M
Series C · Aug 2022
Cumulative funding MegazoneCloud raised
$667M
across 5 funding rounds
Key investors in MegazoneCloud
National Pension Service
Korea Development Bank
KT Investment
Nau IB Capital
KB Financial Group
Salesforce Ventures
About MegazoneCloud
MegazoneCloud is a South Korean cloud computing company and the first Korean partner of Amazon Web Services, offering managed cloud services, AI platforms such as AIR Studio, and consulting spanning cloud migration through AI-native transformation. Founded as a spin-off from Megazone Corporation in 2018, it serves thousands of corporate clients across South Korea, the United States, China, Japan, and other markets, with the US as a priority growth market. The company also provides cloud security services under its HALO brand.
Founded
2018
HQ
SeoulWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Services, Subscription
Valuation
$1.8B (Aug 2022)
MegazoneCloud Valuation
MegazoneCloud is currently valued at $1.8B, based on its Series C in August 2022.
The $341M round was led by IMM Private Equity and MBK Partners, with participation from National Pension Service.
MegazoneCloud's valuation has grown 3.3x from $549M at its Series B in December 2020 to $1.8B in August 2022, across 4 priced rounds.
MegazoneCloud valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2022 | Series C | $1.8B |
| Feb 2022 | Series C | $1.4B |
| Jun 2021 | Series B | $535M |
| Dec 2020 | Series B | $549M |
MegazoneCloud Funding History
MegazoneCloud has raised a total of $667M across 5 funding rounds.
MegazoneCloud's first fundraising round was a $45M Series A in March 2019. The most recent completed round was a $341M Series C in August 2022.
MegazoneCloud funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2022 | Series C | IMM Private Equity (lead); MBK Partners (lead); National Pension Service | $341M | $1.8B | MegazoneCloud is a South Korean cloud computing company specializing in AWS partnerships, AI platforms like AIR Studio, and services including cloud-native to AI-native solutions and quantum computing. It operates globally with a focus on expansion into the US market, leveraging AWS collaborations for enterprise AI and cloud transformation. Competitive positioning emphasizes AWS partnerships, ISO-certified reliability, security brand HALO, and capabilities in generative AI and natural language processing for US enterprises. Total funding across rounds reached $347M to $660M per sources, supporting operational growth and workforce expansion to 501-1000 employees. Traction includes 323-1000 employees across departments, revenue per employee estimated at $720K, and investments in startups like Oasis Studio ($4.7M seed) and now.gg. The company projects over 10x revenue growth in the US market for the following year, amid a public cloud market expected to reach $1 trillion by 2030 and cloud AI growing at 31% annually. |
| Feb 2022 | Series C | KT Investment (lead) | $108M | $1.4B | Megazone Cloud Corp., South Korea's largest managed cloud service provider (MSP), completed its Series C funding round between February and August 2022, attracting 580 billion won ($442.1 million) in combined investments. KT Corp., South Korea's second-largest telecom operator, invested 130 billion won ($109-110 million) on February 15, 2022, acquiring an 8 percent stake, while MBK Partners and IMM Private Equity subsequently invested a combined 450 billion won ($343 million) in August 2022 for mid-10 percent stakes. The total Series C funding of 580 billion won brought Megazone Cloud's post-money enterprise value to 2.4 trillion won following the completion of all investments. Founded as a spin-off from Megazone Corporation in 2018, the company serves over 3,700 corporate clients across multiple geographies including South Korea, the United States, China, Canada, Japan, Hong Kong, and Vietnam, leveraging its position as the first Korean partner of Amazon Web Services since 2012. With this valuation achievement, Megazone Cloud attained unicorn status (over $1 billion valuation) and was preparing for an IPO on the Korean bourse by the end of 2023, having appointed KB Securities as the bookrunner for the public offering. |
| Jun 2021 | Series B | Salesforce Ventures (lead) | $45M | $535M | Megazone Cloud Corp. is South Korea’s largest managed cloud service provider (MSP). In its Series B funding from 2020 to 2021, the firm attracted a combined 190 billion won from investors including Salesforce Ventures. The valuation at the close of this second round of Series B funding in June 2021 was 600 billion won. This round contributed to the company's growth trajectory leading to unicorn status in later funding. The Series B investments built momentum for subsequent rounds, with Megazone Cloud completing a Series C funding in August 2022 raising 450 billion won ($343 million) from MBK Partners (250 billion won) and IMM Private Equity (200 billion won), elevating its enterprise value to 2.4 trillion won. The prior Series B valuation of 600 billion won marked a significant earlier milestone. Megazone Cloud gained unicorn status (over $1 billion valuation) following cumulative investments by KT, MBK, and IMM PE, the largest-ever fundraising for a Korean cloud computing firm. The company was preparing for a 2023 IPO, having selected KB Securities as bookrunner. |
| Dec 2020 | Series B | NongHyup Financial Group; Midas Capital; Korea Investment Partners; JKL Partners; Korea Development Bank; KB Financial Group; ATP Investment; Nau IB Capital; National Pension Service; Kakao Investment; Hyundai Investment Partners; KT Investment | $128M | $549M | MegazoneCloud is a Korean cloud management company providing cloud hosting, data analysis, and AI services to over 7,000 clients. It has raised a total of $660.35M across 5 funding rounds, including a Series B round in December 2020 with a post-money valuation of $549.45M, and a later Series C - II round of $343M in August 2022. Later developments include a $1.7B valuation in 2022 by MBK Partners and IMM Private Equity, and selection of banks like JPMorgan for a planned IPO. In 2023, MegazoneCloud reported $1.2B in revenue, indicating strong growth post-2020, backed by major players like MBK Partners. |
| Mar 2019 | Series A | Intops Investment; Korea Development Bank; KB Financial Group; Korea Investment Holdings; Nau IB Capital; National Pension Service | $45M | - | MegazoneCloud, a leading South Korean cloud service provider and major AWS managed service partner (MSP) in Asia, spun off from its parent Megazone in 2018 after starting cloud operations in 2012. The company offers cloud, data analysis, GenAI services to over 7,000 clients through partnerships with AWS, Google Cloud, Microsoft Azure, and 100+ solution providers. It has expanded internationally with subsidiaries in the US, Japan, Canada, Australia, China, Vietnam, Hong Kong, and Singapore, where its overseas MSP business grew sales 44% year-over-year to about $50 million. Total investments from Series A in 2019 through later rounds reached 800 billion won by 2022. MegazoneCloud has shown strong growth, with sales exceeding 1 billion USD for two consecutive years prior to its 2024 IPO preparations, 68.4% growth in 2022 and 12.7% in 2023. It achieved net profit in Q1 of the IPO year and holds over 360 million USD in cash for M&A. The company won AWS APJ Consulting Partner of the Year in 2025 for the second year, highlighting expertise in revenue contribution, new opportunities, and public sector projects. Underwriters project up to 7 billion USD valuation post-IPO, with JP Morgan, Samsung Securities, and Korea Investment & Securities as leads. MegazoneCloud employs about 2,000 experts and serves 8,000 customers, focusing on AI, cloud-native solutions, and digital transformation amid plans for global expansion and public listing. |
Who has invested in MegazoneCloud?
17 investors have backed MegazoneCloud across its funding rounds, including National Pension Service, Korea Development Bank, KT Investment, Nau IB Capital, KB Financial Group and Salesforce Ventures.
Lead investors include IMM Private Equity, MBK Partners, KT Investment and Salesforce Ventures.
MegazoneCloud Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Jeonju | 3 | Participant | Mar 2019 | |
| Seoul | 2 | Participant | Mar 2019 | |
| Seoul | 2 | Participant | Mar 2019 | |
| Seoul | 2 | Participant | Mar 2019 | |
| Seoul | 2 | Lead | Dec 2020 | |
 San Francisco, CA | 1 | Lead | Jun 2021 | |
| Ulsan | 1 | Participant | Dec 2020 | |
 Guangzhou | 1 | Participant | Dec 2020 | |
| Seoul | 1 | Participant | Mar 2019 | |
| Seoul | 1 | Participant | Dec 2020 | |
| Seoul | 1 | Participant | Dec 2020 | |
| Seoul | 1 | Lead | Aug 2022 | |
| South Korea | 1 | Lead | Aug 2022 | |
This data is available for Pro users. Sign up to see all 17 MegazoneCloud investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialInvestments by MegazoneCloud
MegazoneCloud has invested in 4 companies to date.
Latest investment by MegazoneCloud was on July 12th 2023. MegazoneCloud invested in OASYS STUDIO in their $5M Seed round.
Latest Investments by MegazoneCloud
| Description | OASYS STUDIO is a Los Angeles-based visual effects company operating a cloud-native pipeline for VFX production and services. The studio supports scalable workflows for film, television, and streaming projects, collaborating with clients on titles from major studios like Disney and Netflix. Founded in 2018, it provides end-to-end solutions including asset management, rendering, and review tools within AWS-hosted environments, enabling remote teams worldwide. | BPMG is a developer of web3 gaming platforms integrating blockchain for play-to-earn mechanics and NFT marketplaces. It builds decentralized infrastructure supporting Unity and Unreal Engine games across Ethereum and Polygon networks. | Mondrian AI is a London-based data analytics company that builds privacy-preserving tools for querying sensitive datasets without exposing underlying information. Its platform enables federated learning and differential privacy for machine learning models in sectors like healthcare and finance, allowing secure data sharing across organizations. Mondrian integrates with SQL databases and big data systems such as Snowflake and Databricks for compliant visualizations and insights. | Petdoc is a Seoul-based digital pet healthcare platform offering telemedicine, health tracking, and product delivery in South Korea. The service connects users to veterinarians for video consultations on symptoms, nutrition, and behavior while monitoring vitals through wearable devices. Petdoc stocks prescription foods from Royal Canin and Hill's alongside supplements delivered via nationwide logistics. |
| HQ Country | | | | |
| HQ City | Paju | Seoul | Incheon | Seoul |
| Deal Date | 12 Jul 2023 | 4 Apr 2023 | 16 Mar 2022 | 16 Jul 2021 |
| Round | Seed | Series A | Series A | Series C |
| Raised | $5M | $5M | $4M | $9M |
| Investors | East Gate Partners; Korea Science and Technology Holdings; Bigbang Angels; CJ OliveNetworks; P&I Investment; Korea Investment Accelerator; CNCITY Energy; KITE Entrepreneurship Foundation | VP (Virtual Payment); ITCEN GROUP | Lotte Ventures; Evergreen Investment Partners; TINVESTMENT; BNK Venture Capital | Small Business Corporation |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed |
| EV/Revenue | ||||
| EV/EBITDA | ||||
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MegazoneCloud Competitors
MegazoneCloud competitors include listed companies like SoftwareOne, Beijing Topnew Info, Netweb Technologies India and Odine, and private ones like Defense Unicorns and Orca Security.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Switzerland | Publicly listed | $1.5B | $191M | $2.4B | 1.6x | |
| China | Publicly listed | $39M | ($4M) | $1.2B | - | |
 India | Publicly listed | $228M | $30M | $2.8B | 9.0x | |
 Turkey | Publicly listed | $39M | $3M | $1.2B | - | |
| Colorado Springs, CO | Private | - | - | $1B | - | |
| Portland, OR | Private | - | - | $1.8B | - |
MegazoneCloud Public Comps
MegazoneCloud is still privately-owned, but its public comps include DXC Technology, Kainos Group, Formula Systems, ArcSoft, VNET Group, C3.ai, TIC Solutions, ONE Technologies, UCloud Technology and Sesa.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $13B | $1.5B | 0.3x | 0.3x | 2.8x | 2.6x | |||
| $579M | $81M | 3.0x | 2.7x | 21.2x | 17.1x | |||
| $2.6B | $319M | 0.8x | - | 6.3x | - | |||
| $138M | $41M | 10.6x | 9.9x | 35.6x | 32.5x | |||
| $1.5B | $463M | 4.1x | 3.7x | 13.2x | 11.8x | |||
| $250M | ($484M) | 4.3x | 4.5x | (2.2x) | (6.2x) | |||
| $1.5B | $168M | 2.2x | 1.6x | 19.7x | 10.6x | |||
| $1.5B | $164M | 1.0x | - | 9.6x | - | |||
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Common questions about MegazoneCloud
| When was MegazoneCloud founded? | MegazoneCloud was founded in 2018. |
| Where is MegazoneCloud headquartered? | MegazoneCloud is headquartered in Seoul, South Korea. |
| Is MegazoneCloud publicly listed? | No, MegazoneCloud is a private, VC-backed company. |
| What is MegazoneCloud's valuation? | MegazoneCloud was last valued at $1.8B in its Series C in August 2022. |
| How much funding has MegazoneCloud raised? | MegazoneCloud has raised $667M across 5 funding rounds. |
| What was MegazoneCloud's last funding round? | MegazoneCloud's last funding round was a $341M Series C in August 2022, led by IMM Private Equity and MBK Partners. |
| Who are MegazoneCloud's investors? | MegazoneCloud's investors include National Pension Service, Korea Development Bank, KB Financial Group, Nau IB Capital, KT Investment, Salesforce Ventures, NongHyup Financial Group, Midas Capital, Intops Investment, Korea Investment Partners and 7 others. |
| Which companies are comparable to MegazoneCloud? | Companies comparable to MegazoneCloud include SoftwareOne, Beijing Topnew Info, Netweb Technologies India, Odine, Defense Unicorns and Orca Security. |
| How many companies has MegazoneCloud invested in? | MegazoneCloud has invested in 4 companies, including OASYS STUDIO, BPMG, Mondrian AI and Petdoc. |
| What was MegazoneCloud's last investment? | In July 2023, MegazoneCloud invested in OASYS STUDIO's $5M seed round alongside East Gate Partners, Korea Science and Technology Holdings, Bigbang Angels and 5 other investors. |
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