Danggeun Market, the publisher of South Korea’s hyperlocal community app Karrot, announced it has raised $162 million in a Series D round of funding with a valuation of $2.7 billion. (By the way, Danggeun means carrot in Korean.)
This round of funding was led by DST Global, with additional participation from Aspex Management, Reverent Partners and existing investors such as Goodwater Capital, Altos Ventures, SoftBank Ventures Asia, Kakao Ventures, Strong Ventures and Capstone Partners.
The latest funding officially makes Danggeun Market a unicorn, with $205 million total raised.
The company plan to strengthen its capabilities in local commerce with Danggeun Pay, or Karrot Pay, which is set to launch