Urbanbase builds a 3D spatial data platform and B2B SaaS used for interior planning and design, anchored by its Urbanbase Studio software that transforms 2D indoor images into 3D displays, visualizes products in AR, and analyzes spatial images with AI. The company plans to invest in R&D for advanced VR, AR and 3D tools as it pursues opportunities in the metaverse and will upgrade Urbanbase Studio. Urbanbase also plans geographic expansion — adding English-language support and entering Singapore by the end of 2021 — and is seeking acquisitions in proptech and construction technology to diversify beyond apartment-focused products. The company reports roughly 50,000 monthly active users, 70,000 registered B2C users and about 50 B2B customers, including LG Electronics, Mitsubishi Real Estate Service, Nitori Holdings, Dentsu Group and SoftBank. Founded in 2013 and led by CEO and former architect Jinu Ha, Urbanbase has raised about $20 million in total to date. The latest funding will be used to scale its B2B SaaS and fund R&D in metaverse-related technologies. Urbanbase, founded in 2013 by CEO Jinu Ha, develops virtual reality tools and a patented algorithm that converts 2D floor plans into virtual spaces in as little as two minutes. Its VR platform lets users preview future homes and test furniture, wallpaper and flooring, positioned as a more accessible alternative to camera-based systems like Matterport. The company works with about 40 furniture-company partners and hosts roughly 4,000 items in its platform, and it also partners with real estate firms to source apartment floor plans in Korea. Urbanbase cites that about 60% of Korean households (≈8.5 million) live in apartments, a target market for its tools which help small businesses compete with big-box retailers. Financially, the startup has raised about $3 million to date, including a $1.8M Series A. It plans to use the Series A to expand into Japan, China and Southeast Asia and to launch augmented reality smartphone apps. While competition in Korea is currently limited, the company is preparing for potential entry by large furniture retailers and tech firms with indoor mapping data.

Total raised

$13M

Funding rounds

2

Latest round

Series B

Latest activity

Aug 2021