Seoul-based ProtoPie secures $6.3m to expand westward

ProtoPie, a South Korea-based prototyping software company, announced that it has raised an additional US$6.3 million for its series A round led by HB Investment.

Silicon Valley-based Vela Partners, DevSisters Investment, Intops Investment, BSK Investment, Wonik Investment, and Shinhan Capital also participated in the round.

ProtoPie co-founder and CEO Tony Kim / Photo credit: ProtoPie

The latest funding comes after the company secured US$3.5 million from Samsung Venture Investment in 2018. The startup’s total funding is now US$9.9 million, according to a statement.

ProtoPie said it will use the new funds to establish its North American headquarters, accelerate customer acquisition, and explore key strategic partnerships in the Bay Area. It will also continue to scale its design and sales teams.

Founded in 2014, ProtoPie provides a tool to turn UI and UX design ideas into interactive prototypes for mobile, desktop, web, and even the internet of things. This allows people to test their designs without the need for code or engineers. ProtoPie said its software can help companies release products faster and cut down costs.

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Since its funding round in 2018, the startup said it has grown its team to nearly 40 people – based both in Seoul and Seattle. It has also served 100,000 designers to date, with its tool being used at companies such as Microsoft, Google, Bytedance, Gojek, Grab, Traveloka, Toss, Coupang, and Maybank, among others.