Funding round
MUSINSA Series C
MUSINSA, which works in fashion product retail and distribution in Seoul, raised $190M in a Series C round announced on 19 Jul 2023, led by KKR, at a $2.76B post-money valuation. 2 firms took part. It is MUSINSA's third venture round on record; the one before was a Growth in Mar 2022.
$190M
Amount raised
$2.76B
Post-money valuation
2
Investors
1 lead
1.3x
Step-up from the Growth
$2.20B in Mar 2022
6.9%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced MUSINSA at $2.76B after the new money, 1.3 times the $2.20B of its Growth (Mar 2022). The $190M bought investors about 6.9% of the company. It came 16 months after MUSINSA's Growth. It is 42% of the $457M MUSINSA has raised in the venture rounds on record. No later venture round is on record for MUSINSA.
Investors
Who put money in
KKR led the round with 1 other firm.
Lead investor
- KKR backs 104 venture-backed companies new investor
Also in the round
- Wellington Management new investor
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations, acquisitions and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Acquisitions
- Working capital
Comparable rounds
How it compares
7 Series C rounds in Clothing Stores within a year either side disclosed an amount; the median was $17M, and this round was 11 times the median. The closest in time, other companies' Series C rounds in Clothing Stores:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Clothing Stores | 15 May 2023 | $13M | not disclosed | Amazon Smbhav Venture Fund |
| Clothing Stores | 24 Apr 2023 | $85M | not disclosed | Inovia |
| Clothing Stores | 15 Nov 2023 | $150M | not disclosed | D1 Capital Partners |
| Clothing Stores | 29 Mar 2023 | $16M | not disclosed | Xponentia |
| Clothing Stores | 1 Mar 2024 | $2.4M | $21M | not named |
| Clothing Stores | 1 Oct 2022 | $17M | not disclosed | not named |
| Clothing Stores | 13 Jul 2022 | $40M | not disclosed | Cleveland Avenue |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did MUSINSA raise in its Series C round?
MUSINSA raised $190M in its Series C round, announced in Jul 2023.
Who led MUSINSA's Series C round?
KKR led it, with Wellington Management.
What was MUSINSA's valuation at the Series C round?
$2.76B post-money.
How does it compare with other Series C rounds in Clothing Stores?
7 Series C rounds in Clothing Stores within a year either side disclosed an amount; the median was $17M, and this round was 11 times the median.