Korean startup Modusign said it has attracted 2.5 billion won or about $ 2.2 million worth of investment from Korea Investment Partners and ES INVESTOR.
Modusign provides SaaS-based electronic contract services that have no separate programs such as ActiveX or applications, and the other party can sign the contract easily through e-mail, Kakao Talk or text messages without signing up. The status of the contract can be real-time and the entire process can be recorded from the signing request to completion. Based on this convenience, Modusign has secured 30,000 customers and more than 260,000 over 260,000 subscribers.
“Modusign is focused on solving inefficiencies that arise during contract signing and storage and we decided to invest because we believe that there is a possibility of growth of RIG IT TEG businesses in the long term as well as serving as effective sales channels for various B2B solutions,” said Chung Hwa-mok, a senior manager at Korea Investment Partners who led this investment.
“We will focus on strengthening our position of leading services and expanding our customer based on data that we have accumulated through this investment,” said CEO Lee Young-joon of Modusign. “We will continue to upgrade our technology such as blockchain while making and managing contracts in the future and make various attempts to help the decision-making process more safely and efficiently.”