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The Venture Codex

Naver

NAVER 1784, 95, Jeongjail-ro, Bundang-gu, Seongnam-si, Gyeonggi-do, 13561, South Korea

Overview

Naver operates as a search engine and e-commerce platform providing fintech, digital content, and cloud services. The company introduces innovative search services such as ‘Comprehensive Search,’ ‘Knowledge iN,’ and ‘Real-time Rising Keyword.' It also offers UGC services such as Blog and Cafe; Junior Naver, a children’s portal; Happybean, an online donation portal. NAVER launched its Webtoon service in June 2004 and has pioneered the distribution and consumption of webtoons, also known as digital comics. In addition, NAVER also offers services for the global market, including the mobile messenger LINE through LINE Corporation, NAVER’s subsidiary; the video messenger Snow; and the group communication service BAND. NAVER is also involved in software development and distribution; performances and exhibitions business; mobile content development and distribution; search advertising; internet commerce and customer service business; the operation and security services of IT infrastructure; operating online shopping services, and mobile applications marketing. Lee Hae-Jin and Lee Joon-ho headquartered the company in Seongnam, Kyonggi-do, South Korea in 1999.

Total investments
24
Lead investments
5
Investments · 12mo
5
Active investors
9

Sector focus

  • Internet of Things
  • Online Portals
  • Search Engine
Visit website

Investment portfolio

  • SAZO

    Led · Convertible Note · Jul 2026

    Founded in 2023 by CEO Maro Gil, SAZO develops agentic AI infrastructure to automate key processes in cross-border shopping, including shipping fee and customs duty prediction, translation, local pricing, payment, and customs clearance. The company reports approximately 95% accuracy in predicting shipping fees, customs duties, and service charges. SAZO currently operates services connecting Korea, the United States, and Japan and has seen monthly transaction volume grow roughly sevenfold over the past six months on its Korea-Japan service. It has secured partnerships with platforms including Mercari, Rakuten, and Bungaejangter. In 2025 SAZO received a strategic investment from Japan Post Capital, and the company says it will expand into additional markets and deepen partnerships with brands and platforms while hiring to support growth. SAZO's aim is to provide a cross-border purchase experience comparable to domestic online shopping by connecting local platforms with logistics and payment infrastructure across countries.

  • Promedius

    Participated · Series B · Jun 2026

    Promedius develops Osteo Signal, an AI-based screening solution that analyzes routine chest radiographs to assess osteoporosis risk in about three seconds and identify at-risk patient groups without additional tests. Osteo Signal was designated an innovative medical device in 2024 and received approval from the Korean Ministry of Food and Drug Safety in 2025; the company has also secured regulatory approvals in Vietnam and Indonesia and is seeking FDA and CE/MDR clearances by the end of the year. Promedius has built partnerships with global medical device companies such as Siemens Healthineers and secured strategic investors including Daewoong Pharmaceutical and Naver to support commercial rollout. The company aims to commercialize nationally and expand internationally while broadening its platform to address healthy aging conditions like sarcopenia, metabolic and cardiovascular diseases. Its total funding now exceeds 35 billion won following the recent Series B raise of 21.5 billion won.

  • Cashmere

    Participated · Seed · Jan 2026

    Cashmere operates a proprietary OmniPub infrastructure that converts premium content into structured, rights-cleared datasets usable by AI systems. Its platform offers token-level access control, automated rights management, granular usage tracking, and revenue settlement, enabling publishers to monetize their intellectual property while maintaining protection. For AI companies, Cashmere supplies scarce, authoritative material that boosts model quality and differentiation beyond ordinary web-crawled data. The company has inked content partnerships with John Wiley & Sons and Harvard Business Publishing and already serves AI clients such as Perplexity. NAVER’s venture arm plans to collaborate with Cashmere, potentially integrating the platform into NAVER’s search and content products. Strengthened by a newly announced $5 million seed round, Cashmere aims to establish itself as the industry standard for licensing premium data to the AI ecosystem.

  • GravityLabs

    Participated · Series A · Dec 2025

    Founded in 2022 by former medical student Woonyeon Kim, GravityLabs develops Moneywalk, a gamification-based healthcare app that rewards and motivates users to increase daily activity through personalized, AI-driven challenges. The service has grown 10× in two years and now counts roughly 1.3 million monthly active users and more than 5 million cumulative users across Korea, the United States, and Japan. Moneywalk’s rapid user adoption has translated into an annual recurring revenue run-rate approaching $25 million, achieved with a lean team of just 20 employees. GravityLabs’ competitive edge lies in its proprietary “behavior change technology” that analyzes activity patterns, sleep rhythms, and reward responses to deliver customized missions and feedback. With fresh capital, the company plans to establish a U.S. office, relocate key staff, and hire local talent while continuing to develop AI-based healthcare products tailored to North America. It also aims to expand through partnerships with insurers, healthcare providers, and wellness platforms, ultimately building an AI healthcare infrastructure for preventive medicine and chronic disease management.

  • Humanscape

    Participated · Equity · Dec 2025

    Humanscape builds and operates two core products: Mamitok, a pregnancy and early-childhood platform that partners with obstetrics and gynecology clinics to deliver ultrasound imaging, AI-based growth analytics, and curated information for expectant parents, and RareNote, a patient-centric platform that lets people with rare diseases manage medical records, estimate treatment costs, and track medications while contributing data for global clinical research and drug development. Mamitok has become a leading service in Korea and is seeing particularly strong user growth in the United States, Vietnam, and Indonesia. The company reports that its global revenue more than tripled year-over-year. Humanscape intends to leverage its growing data sets to develop additional AI-driven healthcare solutions and services. Looking ahead, management is pursuing international expansion, with a focus on the U.S. market, and is preparing for a KOSDAQ IPO in partnership with KB Securities. Cumulatively, the firm has raised 80 billion KRW in funding to date.

Team

  • Hae-Jin Lee

    GIO and Co-Founder

    LinkedIn
  • Joon-ho Lee

    Co-founder

  • Ian Kwon

    Business Development

    LinkedIn
  • Jeong-an Lee

    Leader of Investment and Development

    LinkedIn