Backed by Korea Development Bank and LB Investment
t’order Secures $23 Million Series B Funding
t'order Inc.
Duri Jang
duri@torder.com
t'order Inc. (CEO Austin Kwon), a leading provider of table-ordering services, successfully secured approximately USD 23 million (KRW 30 billion) in Series B funding last year.
This press release
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CEO Austin Kwon presenting t’order’s overseas market strategy. (Photo: t’order Inc.)
Despite a downturn in South Korea’s startup investment market, t’order achieved a valuation of around USD 230 million. The Series B funding round was supported by Korea Development Bank, LB Investment, and other investors. In the first tranche of the Series B round, t’order raised USD 23 million.
Investors were drawn to t’order’s ability to expand its services beyond the restaurant industry into sectors such as hospitality and advertising. They also recognized the company’s versatility across industries and its potential for rapid growth in both domestic and international markets.
After completing the first tranche of its Series B funding, t’order plans to attract additional investments from global venture capital firms, including those based in Silicon Valley. These investors are particularly interested in t’order’s table-ordering service due to its alignment with the ongoing digital transformation in the dining and hospitality sectors worldwide.
Yongwoon Kim, Vice President and COO, commented, “This Series B funding is a pivotal moment for t’order as we look to expand globally and diversify our revenue streams. As the market leader in the domestic table-ordering sector, we are committed to pioneering new opportunities within the industry.”
CEO Austin Kwon added, “Our ability to diversify our business model—extending beyond the food service sector to hospitality—has been key in attracting positive investor sentiment. With interest from global investors, we are focused on delivering strong international performance.”
Founded in 2019, t’order currently holds over 60% of the domestic table-ordering market share. According to its 2023 audited financial report, t’order generated USD 45.8 million (KRW 59.6 billion) in revenue, marking a 77% year-on-year growth.
Domestically, t’order provides SaaS-based services to large corporations, VAN providers, and POS companies. As part of its global expansion strategy, the company established a Canadian subsidiary in 2022 and formed a U.S. subsidiary in the second half of last year, accelerating its entry into global markets.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250107992210/en/
