Wrtn Becomes First Korean AI Service Startup to Surpass 100B Won in Funding

Wrtn Technologies Inc., a South Korean artificial intelligence (AI) startup, has secured 108 billion won ($73.5 million) in its Series B funding round. The latest investment, which includes 83 billion won ($56 million) from investors such as Goodwater Capital, follows a pre-Series B round nine months ago that raised 25 billion won. 

This brings Wrtn’s total funding to 130 billion won ($88.5 million), making it the first AI service platform startup in Korea—excluding large language models (LLM) and semiconductor firms—to surpass 100 billion won in cumulative investments.

The extension round saw participation from existing investors, including BRV Capital Management and Capstone Partners. The Seoul-based startup, which focuses on AI-powered chatbot aggregation services, plans to use the funding to enhance its technology and expand its global reach. The latest funding reflects the growing interest in AI startups in South Korea, particularly in the post-ChatGPT era, as investors seek to support companies driving innovation in AI applications.

Founded in 2021 by Lee Seyoung and five co-founders, Wrtn—pronounced “written”—has grown rapidly, attracting over 5 million users in South Korea. The company offers a free AI-powered platform aggregating multiple large language models, including OpenAI’s ChatGPT-4, Stable Diffusion 3, and Anthropic’s Claude 3. Unlike many AI startups in Korea that focus on infrastructure, such as chip development, Wrtn specializes in AI-driven services. 

The latest investment will support Wrtn’s expansion efforts, including hiring new talent and enhancing its AI persona chat service, “Crack,” which is set to launch officially as a standalone web and mobile app. Previously integrated within Wrtn’s platform, Crack contributed to the company’s revenue, generating $1.36 million in a single month in December 2024. Following its launch in Korea, Wrtn plans to introduce Crack in Japan and the UAE, where it has established offices in Tokyo and Dubai.

Goodwater Capital, a Silicon Valley-based investment firm known for backing South Korean startups such as Toss, Danggeun Market, Kakao, and Coupang, led the Series B round. Other investors included Woori Venture Partners, Antler, Z Venture Capital, Sui Generis Partners, Capstone Partners, and BRV Capital Management. Wrtn had previously secured 25 billion won in pre-Series B funding in June 2023, bringing its total raised to 130 billion won.

Wrtn has seen rapid user growth, surpassing 5 million monthly active users in just 22 months—outpacing popular South Korean platforms such as Toss, which took 39 months, and Danggeun Market, which took 24 months to reach the same milestone. This rapid adoption highlights the increasing demand for AI-driven services in Korea, especially in the post-ChatGPT era, where AI applications are gaining mainstream traction.

Goodwater Capital expressed confidence in Wrtn’s potential, stating that AI service platforms catering to diverse users are entering a high-growth phase. The firm believes Wrtn’s strong momentum and approach make it a major player in the AI service industry. With its latest funding, Wrtn is well-positioned to expand its offerings, strengthen its technology, and scale its business globally.

Wrtn CEO Lee Se-young emphasized the company’s vision of making AI an integral part of everyday life rather than a technology confined to research labs. “Since our founding, Wrtn has focused on developing AI services that are accessible and useful for the public,” he said. He added that the company will continue refining its technology to ensure AI remains easy to use and widely available.

The company has also seen strong revenue growth, posting 1 billion won in monthly sales in November 2023 and doubling that figure to 2 billion won in December. Lee reaffirmed Wrtn’s commitment to expanding its AI offerings, stating that the company aims to evolve into a leading AI platform by continuously improving user-friendly AI solutions.