Pipeline software solutions provider Cloa wins $5.1 mn in additional funding

NAVER Corp.’s startup accelerator D2SF (D2 Startup Factory) has made an additional investment into data pipeline solutions provider Cloa, the company announced Wednesday. 

Cloa received a total of 6 billion won ($5.1 million) in investment, led by Seoul-based WE Ventures. Other contributors include D2SF, Stonebridge Ventures Inc., KB Investment and MEGAZONE. 

Cloa is developing an all-in-one SaaS (software as a service) that encompasses data storage, processing, and analysis. The SaaS allows data analysts to process data dispersed on different clouds.

The startup boasts an experienced team of developers from Devsisters Corp., Sendbird, and Zigzag. Its chief technology officer is Ha Yong-ho, himself a data scientist.

Yang Sanghwan, a leader at D2SF said, “Data processing is becoming increasingly  important thanks to changes in data warehouses and multi-clouds.” He added, “Cloa is expected to grow exponentially as it has proven its technological competitiveness through various benchmarks and received positive responses from potential clients.” 

Cloa CEO Lim Sung-eun said the startup plans to hire front-end and back-end developers, as well as UX designers. The plan is to launch a beta version of its first product within the first three quarters of next year and seek out clients at home and abroad. 

Write to Kim Joo-wan at kjwan@hankyung.com
Jee Abbey Lee edited this article.