ABLY Corporation (ABLY), which operates Korea’s style commerce platforms ‘ABLY, ‘4910’, and ‘amood’, has secured a new investment of KRW 100 billion (approximately $75 million), raising its corporate valuation to KRW 3 trillion (around $2.25 billion). This milestone establishes ABLY as the first unicorn company (a startup valued at over KRW 1 trillion, or $750 million) in Korea this year, defying the challenging investment climate. Notably, ABLY achieved unicorn status just a year after December last year, a significant accomplishment.

ABLY’s valuation has surged 3.5 times over the past two years, compared to its pre-Series C investment in January 2022. This recent investment was led by ‘Alibaba Group’, which acquired a minority stake worth KRW 100 billion (approximately $75 million).

ABLY’s unicorn milestone is a record-breaking achievement among domestic fashion platforms. Since its official launch in March 2018, ABLY has surpassed the valuation threshold for a unicorn company in just six years. This success has gone beyond elevating its corporate value, revitalizing Korea’s long-depressed venture and startup ecosystem.

Building on this success, ABLY aims to attract a total of KRW 200 billion (about $150 million) in global joint investments by engaging with Silicon Valley investors and international sovereign wealth funds. The company has received high praise for excelling in the so-called “pentagonal specifications,” which assess startups on five key indicators: ▲global capabilities ▲profitability ▲business feasibility ▲technology ▲manpower. This recognition underscores its growing appeal in the global capital market, paving the way for further investment rounds.

ABLY credits its “K-style competitiveness” for its international success, having established itself as a leader in taking Korean sellers to global markets. With the rising global influence of Korean culture—spanning K-food, K-pop, and K-content, and extending into fashion and beauty—ABLY has become the industry leader in the number of sellers and is driving the globalization of K-fashion. Its overseas expansion efforts, particularly through the Japanese fashion app ‘amood’, are expected to drive rapid growth in North American and Southeast Asian markets.

ABLY’s strong financial performance and rapid growth have also been widely recognized. Its transaction volume, which stood at KRW 700 billion (approximately $525 million) during its Pre-Series C round in 2021, exceeded KRW 1 trillion (about $750 million) in the first half of this year alone. The company is on track to become the first women’s fashion platform to achieve an annual transaction volume of over KRW 2 trillion (around $1.5 billion). This threefold growth over three years, combined with 9 million monthly active users (MAU) and its distinction as the only profitable fashion platform in the market last year, underscores its success.

ABLY’s AI-driven personalization technology has been a key differentiator. The company pioneered the industry’s first self-developed AI personalization recommendation algorithm, leveraging 15 years of expertise. This technology powers its platforms, including ‘4910’, which has risen to the second-largest position in the men’s fashion segment. ABLY continues to enhance its commerce offerings with features like the online payment solution ‘ABLY Pay’, designed to improve payment convenience.

With this latest investment, ABLY plans to further enhance its product capabilities, recommendation technology, and user experience (UI/UX). The company will also strengthen its portfolio by actively investing in new businesses, including ‘amood’, ‘4910’, and fintech ventures.

Kang Seok-hoon, CEO of ABLY, stated: “Even in a challenging investment climate, ABLY’s business value and growth potential have been reaffirmed with our successful valuation increase and unicorn milestone. Leveraging the success formula we’ve built—rooted in unmatched technology and big data—we will solidify our position as Korea’s leading ‘recommendation-based style commerce’ platform and continue expanding our competitiveness in the global market.”