T-Map Mobility Revenue, Valuation, Funding & Investors
T-Map Mobility is valued at $1.5B as of August 2022, a 3.7x multiple on its last reported $402M revenue.
Last T-Map Mobility valuation
$1.5B
Undisclosed stage · Aug 2022
Last T-Map Mobility funding round
$152M
Undisclosed stage · Aug 2022
T-Map Mobility revenue
$402M
Undisclosed stage · Aug 2022
Key investors in T-Map Mobility
Affirma Capital
EastBridge Partners
KB Kookmin Bank
About T-Map Mobility
T-Map Mobility is a Seoul-headquartered navigation service provider powering in-car and mobile apps with real-time traffic, route planning, and ADAS features. Integrated into Hyundai and Kia vehicles, it delivers HD maps and predictive ETAs using AI algorithms. Launched in 2018 as a SK Telecom subsidiary, T-Map Mobility covers South Korea and expands to Southeast Asia.
Founded
2020
HQ
SeoulWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$402M (Aug 2022)
Valuation
$1.5B (Aug 2022)
T-Map Mobility Valuation
T-Map Mobility is currently valued at $1.5B, based on its undisclosed-stage round in August 2022.
The $152M round was led by KB Kookmin Bank.
T-Map Mobility's valuation has moved from $3B at its undisclosed-stage round in March 2021 to $1.5B in August 2022, across 2 priced rounds.
T-Map Mobility valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2022 | Undisclosed stage | $1.5B | 3.7x |
| Mar 2021 | Undisclosed stage | $3B | - |
T-Map Mobility Revenue
T-Map Mobility's latest recorded revenue is $402M, as of its undisclosed-stage round in August 2022. At a $1.5B valuation, that implies a 3.7x revenue multiple.
T-Map Mobility revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2022 | $402M | $1.5B | 3.7x | Undisclosed stage |
* 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.
T-Map Mobility Funding History
T-Map Mobility has raised a total of $570M across 2 funding rounds.
T-Map Mobility's first fundraising round was a $419M undisclosed-stage round in March 2021. The most recent completed round was a $152M undisclosed-stage round in August 2022.
T-Map Mobility funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2022 | Undisclosed stage | KB Kookmin Bank (lead) | $152M | $1.5B | T-Map Mobility is a mobility platform subsidiary of SK Square, offering services like navigation, ride-hailing for substitute drivers and truck drivers, and developing products utilizing data such as used car rental history. On August 22, 2022, KB Kookmin Bank invested 200 billion KRW in new shares, acquiring an 8.3% stake and valuing the company at 2.2 trillion KRW post-money, more than doubling its value since its 2020 spin-off from SK Telecom. This made KB Kookmin the fourth-largest shareholder after SK Square (60.1%), Apalma Capital (12.7%), and East Bridge (12.7%). The investment follows a prior 400 billion KRW raise from private equity funds in April 2021. The strategic partnership between T-Map Mobility and KB Kookmin Bank aims to launch customized insurance and loan products for financially vulnerable platform workers, such as designated and truck drivers, combining finance with mobility services. Funds will support business expansion, hiring, and innovation in future areas like urban air mobility (UAM), autonomous driving, carbon mileage services, and payments. T-Map Mobility plans to grow its corporate value to 4.5 trillion KRW within three years and targeted an IPO by 2025 with annual sales of 600 billion KRW. In Q2 2022 (April-June), T-Map Mobility reported quarterly sales of 45.1 billion KRW, up 301% year-over-year, indicating strong growth traction. The company leads the Korean mobility market and has formed prior partnerships, including with SK Square's ecosystem. |
| Mar 2021 | Undisclosed stage | Affirma Capital; EastBridge Partners | $419M | $3B | T Map Mobility is the mobility spin-off from SK Telecom, operating businesses such as T Map navigation and T Map Taxi ride-hailing services. In early 2021, global buyout fund Affirma Capital and South Korean private equity firm EastBridge Partners were competing for a 300 billion won ($267 million) fundraising round by the company. T Map Mobility planned to raise its enterprise value to 4.5 trillion won through this investment, compared to a previous 1 trillion won estimate by Uber the prior year. Affirma Capital ultimately acquired new shares in the newly established entity post-spin-off, with legal advice from Kim & Chang on regulatory and minority investor protections. The company later formed a strategic partnership with Uber, receiving a Won 400 billion equity investment in May 2021, and was involved in subsequent funding and an acquisition by Uber in December 2024. T Map Mobility's mobility platform positioned it in South Korea's competitive ride-hailing and navigation market, leveraging SK Telecom's affiliates for strategic alliances amid evolving regulations. |
Who has invested in T-Map Mobility?
3 investors have backed T-Map Mobility across its funding rounds, including Affirma Capital, EastBridge Partners and KB Kookmin Bank.
Lead investors include KB Kookmin Bank.
T-Map Mobility Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Seoul | 1 | Lead | Aug 2022 | |
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by T-Map Mobility
T-Map Mobility has acquired 2 companies to date.
Last acquisition by T-Map Mobility was on June 19th 2022. T-Map Mobility acquired Logisoft for undisclosed valuation.
Latest Acquisitions by T-Map Mobility
| Description | - | Your Logis Partner is a South Korea-based logistics provider offering transportation and dispatch services to corporate clients from http://ylp.co.kr/. The company optimizes supply chain costs through efficient routing and fleet management. |
| HQ Country | | |
| HQ City | - | Seoul |
| Deal Date | 19 Jun 2022 | 19 May 2021 |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all T-Map Mobility acquisitions and their M&A valuation multiples. Start Free Trial | ||
Investments by T-Map Mobility
T-Map Mobility has invested in 1 company to date.
Latest investment by T-Map Mobility was on July 2nd 2021. T-Map Mobility invested in Carrot General Insurance in their $87M Undisclosed stage round.
Latest Investments by T-Map Mobility
| Description | Carrot General Insurance is a Toronto-based digital insurer offering usage-based auto policies and home insurance products in Ontario. The company uses telematics apps to assess driving behavior for personalized premiums and claims processing. |
| HQ Country | |
| HQ City | Seoul |
| Deal Date | 2 Jul 2021 |
| Round | Undisclosed stage |
| Raised | $87M |
| Investors | Hanwha; STIC Investments; Hyundai; Altos Ventures |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all T-Map Mobility investments and their VC round multiples. Start Free Trial | |
T-Map Mobility Competitors
T-Map Mobility competitors include listed companies like Ituran Location & Control, BDStar and Hesai Technology, and private ones like Mapbox, Qianxun Spatial Intelligence and Banma Network Technologies.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Washington, DC | Private | $100M | - | $1.3B | - | |
 Shanghai | Private | - | - | $1.8B | - | |
 Israel | Publicly listed | $359M | $93M | $1B | 2.4x | |
| Shanghai | Private | $125M | - | $1B | 8.0x | |
| China | Publicly listed | $330M | ($12M) | $2.3B | - | |
| China | Publicly listed | $451M | $71M | $2.7B | 3.1x |
T-Map Mobility Public Comps
T-Map Mobility is still privately-owned, but its public comps include Ituran Location & Control, Keytop Parking, Queclink, SuperMap, BDStar, TomTom, CE Info Systems, NextNav, Zenrin and Hesai Technology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $359M | $93M | 2.6x | 2.4x | 10.2x | 8.8x | |||
| $124M | $29M | 7.5x | - | 32.3x | - | |||
| $133M | $12M | 4.8x | 4.2x | 51.7x | 29.5x | |||
| $225M | $26M | 2.6x | 2.6x | 22.1x | 23.7x | |||
| $330M | ($12M) | 6.4x | - | (176.6x) | - | |||
| $639M | $18M | 0.5x | 0.5x | 18.5x | 6.6x | |||
| $49M | $20M | 9.6x | 8.7x | 23.3x | 23.5x | |||
| $5M | ($169M) | 503.2x | 540.7x | (13.6x) | (48.0x) | |||
This data is available for Pro users. Sign up to see all T-Map Mobility competitors and their valuation data. Start Free Trial | ||||||||
Common questions about T-Map Mobility
| When was T-Map Mobility founded? | T-Map Mobility was founded in 2020. |
| Where is T-Map Mobility headquartered? | T-Map Mobility is headquartered in Seoul, South Korea. |
| Is T-Map Mobility publicly listed? | No, T-Map Mobility is a private, VC-backed company. |
| What is T-Map Mobility's valuation? | T-Map Mobility was last valued at $1.5B in its undisclosed-stage round in August 2022. |
| How much funding has T-Map Mobility raised? | T-Map Mobility has raised $570M across 2 funding rounds. |
| What was T-Map Mobility's last funding round? | T-Map Mobility's last funding round was a $152M undisclosed-stage round in August 2022, led by KB Kookmin Bank. |
| Who are T-Map Mobility's investors? | T-Map Mobility's investors include KB Kookmin Bank, Affirma Capital and EastBridge Partners. |
| What is T-Map Mobility's revenue? | T-Map Mobility's latest recorded revenue is $402M (August 2022). |
| What is T-Map Mobility's revenue multiple? | T-Map Mobility's latest valuation implies a 3.7x revenue multiple ($1.5B valuation on $402M of revenue). |
| Which companies are comparable to T-Map Mobility? | Companies comparable to T-Map Mobility include Mapbox, Qianxun Spatial Intelligence, Ituran Location & Control, Banma Network Technologies, BDStar and Hesai Technology. |
| How many companies has T-Map Mobility acquired? | T-Map Mobility has acquired 2 companies, including Logisoft and Your Logis Partner. |
| How many companies has T-Map Mobility invested in? | T-Map Mobility has invested in 1 company, including Carrot General Insurance. |
| What was T-Map Mobility's last investment? | In July 2021, T-Map Mobility invested in Carrot General Insurance's $87M undisclosed-stage round alongside Hanwha, STIC Investments, Hyundai and 1 other investor. |
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