Kdan Mobile Software Ltd. recently announced the completion of a $16 million Series B round of funding led by Dattoz, an investment fund co-funded by Korean software group Hancom and Line's parent company Naver, and followed by Golden Asia Fund Ventures, the investment fund of Japan's Mitsubishi UFJ Financial Group, WI Harper Group, and Taiwania Capital Management Corporation.
The company will use the new round of funding to develop software technologies such as Document A.I., SDK, etc. Kdan Mobile Software's CEO, P.J. Su, said this round of financing would drive its To B enterprise services to the U.S., Japanese and Korean markets, as well as further expansion in the global market.
Kdan Mobile Software is a Taiwan-based SaaS vendor. The software offering includes a series of PDF document and multimedia tools for mobile devices, as well as an e-signature solution. The company has three series of products, Document 365, Creativity 365, and the newly launched DottedSign. The products are positioned as productivity tools to enhance work and learning efficiency, as well as creative design. Its services and products have accumulated more than 200 million downloads worldwide, with 10 million active users and 1.2 billion documents processed annually.
According to Gartner, the global SaaS services market size reached $102.1 billion in 2019 and is expected to reach $138.3 billion by 2022, growing at a CAGR of 11% from 2019-2022.
According to data published by International Data Corporation (IDC), CRM accounted for 44% of the global SaaS industry segments in 2019, ERP accounted for 17%, and office suites accounted for 16%, with the three together accounting for 3/4 of the market share. It is expected that the market pattern of SaaS will not change much in the next few years, meaning that the global market size of office suites will be around USD 20 billion in 2021-2022.
Kdan Mobile Software has 50% of its active users in North America and Europe and 30% in Asia. Its enterprise clients include Softbank, Marubeni Corporation, Hancom, Disney, Crown Media Group, and 7-11.
Founded in 2009, Kdan Mobile Software is a 200+ employee company based in Taiwan, with offices in Beijing, China, Changsha, China, the U.S., and Japan. (36 Kr)
