December 22, 2024

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Healingpaper Co., the operator of cosmetic surgery review platform GangnamUnni, raised 18.5 billion won ($15 million) in its series B funding round, the company said April 28.

In the latest round of fundraising, led by Legend Capital, KB Investment and Hana Ventures signed on as new investors, joining existing investors Premier Partners and Stonebridge Ventures.

GangnamUnni, meaning “Sisters in Gangnam” in Korean, offers reviews and ratings of 1,700 clinics and links them with potential clients. Gangnam is an affluent district of Seoul that became world-famous in 2012 because of rapper Psy. The district has a cluster of cosmetic surgery clinics. 

Over the past five years, the app has facilitated more than 600,000 consultations between plastic surgeons and patients, the company said.

“GangnamUnni will play a leading role in building a healthy medical market ecosystem and helping global patients experience the best Korean beauty care technology,” Hong Seung-il, founder and CEO of Healingpaper, said.

Lead investor Legend Capital, based in China, has US$7.1 billion under management and has invested in 470 startups around the world. It has backed a similar app, Chinese-language cosmetic surgery platform Gengmei, as well as Big Hit Entertainment, the agency that manages K-pop boy band BTS.

“South Korea’s medical service industry is globally competent as the industry is absorbing top talent and attracts 380,000 foreign patients annually,” said an official at Legend Capital. “Platforms like GangnamUnni could help enhance the credibility of the medical industry not only for domestic patients but also for global patients,” the official said.

By Park Ga-young (gypark@heraldcorp.com)