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Total amount raised
$49M
Latest funding date
2025-06-11
Location
Flex has raised $60 million in a Series B funding round to scale its AI-native private banking platform, which integrates personal and business financial management. The company has participated in nine funding rounds, attracting a total of 34 investors, including recent backers like Crosslink Capital and Wellington Management.
Keep reading to explore the intricacies of Flex's fundraising journey and the investors backing this innovative platform.
Flex, the South Korea-based all-in-one HR SaaS platform, has raised funding across multiple rounds backed by prominent investors including Greenoaks, DST Global, and Han River Partners.
Keep reading to explore Flex's fundraising journey, key backers, and what lies ahead for this fast-growing HR technology company.
What Is Flex?
Flex (flex.team) is a South Korea-based all-in-one human resources (HR) SaaS platform founded in May 2019. The company provides comprehensive HR management solutions covering recruitment, payroll, attendance, and organizational management for enterprises. Flex targets mid-to-large businesses in South Korea and has achieved approximately KRW 30 billion (~$21.6M) in annual recurring revenue. The company is planning a Series C round within 1–2 years as it targets unicorn status (KRW 1 trillion+ valuation).
How Much Funding Has Flex Raised?
Flex has raised a cumulative total of approximately $49.3M across disclosed equity rounds, with an additional KRW 20 billion (~$14.4M) in credit guarantees from the Korea Credit Guarantee Fund. Publicly confirmed equity rounds are detailed below:
- Series B (Initial)
- Amount Raised: USD 32,000,000
- Date: January 17, 2022
- Valuation: USD 287 million
- Lead Investors: Greenoaks
- Participating Investors: DST Global
- Source: TechCrunch, January 17, 2022
- Series B-1 (Bridge)
- Amount Raised: KRW 10 billion (approximately USD 7.3M)
- Date: June 11, 2025
- Valuation: KRW 500 billion (approximately USD 360–370 million)
- Lead Investors: Han River Partners
- Source: VentureSquare, June 11, 2025
Total Amount Raised: at least $49.3M based on disclosed equity funding rounds (Tracxn). Prior seed and Series A rounds totaling approximately $10M were raised before 2022, but investor details are undisclosed in available public sources. Cumulative investment including credit guarantees is approximately KRW 80 billion (~$57.6M).
Key Investors
- Greenoaks
- Details: Greenoaks is a global internet investment firm based in San Francisco. It led Flex's initial Series B round in January 2022, investing at a $287M valuation.
- DST Global
- Details: DST Global is a Menlo Park-based global technology investment firm known for backing leading consumer internet and technology companies. It participated in Flex's January 2022 Series B.
- Han River Partners
- Details: Han River Partners is a venture capital firm focused on connecting Silicon Valley with the Korean technology ecosystem. It led Flex's Series B-1 bridge round in June 2025, valuing Flex at KRW 500 billion (~$360–370M).
What's Next for Flex?
Flex is positioned to continue expanding its footprint in the South Korean HR SaaS market. With a growing annual recurring revenue and strong institutional backing, the company is focused on accelerating its AI-driven HR product development. Flex has publicly stated intentions to pursue a Series C round within 1–2 years, targeting unicorn status at a valuation of KRW 1 trillion or more.
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