South Korea-based Pion Corporation, a provider of advertising video and image creation AI SaaS “VCAT.AI“, announced today that it has raised KRW 10.5 billion in Series A funding. VCAT was launched a year ago as a service that allows users to create dozens of advertising videos and banner images within minutes by simply entering a product URL.

Premier Partners, Smilegate Investment, KT Investment, and KB Investment participated in the investment, with follow-on investments from existing investors.  KIBO invested 2 billion won in the form of a convertible VC matching guarantee.

“The team of adtech experts who have experienced successful IPOs have revolutionized the ad content creation process with AI technology,” said Ho-Kyung Kim, Senior Associate at Premier Partners, who led the investment. ” Vcat has proven its growth potential with a SaaS solution that can be scaled up by signing one contract after another with large platform companies.”

Recently, NAVER, Lotte On, Cafe24, and CJ ENM have signed SaaS integration agreements with Vcat to automatically produce large amounts of marketing materials with AI. Vcat is rapidly gaining market share, with MRR (monthly subscription revenue) exceeding KRW 100 million within a year of its launch in Korea. 

“Even in the midst of a sluggish investment market, VCAT has been recognized for the growth potential of its marketing material automation service with its differentiated generative AI technology,” said Chan-seok Jeon and Beom-jin Jung, Co-CEOs of VCAT. “With this funding, we plan to target overseas markets and advance our next-generation video generative AI technology.”  

Meanwhile, Vcat is a business-to-business (B2B) subscription software (SaaS) based on AI technology. With Vcat, businesses can easily produce advertising videos and banner image materials without hiring professional designers and automate repetitive design tasks with AI.