JANDI becomes the first Korean company to win the global Qualcomm Ventures QPrize™ Investment Competition
JANDI becomes the first Korean company to
win the global Qualcomm Ventures QPrize™ Investment Competition
JANDI, an enterprise SaaS platform that facilitates communication and project management in workplaces across Asia, will receive a total of US $500,000 from Qualcomm Incorporated, through its venture investment group Qualcomm Ventures, after winning the grand prize at the fifth annual QPrize™ competition. QPrize is an international seed investment competition that, in 2015, offered funding to applicants from eight different regions from around the world – North America, Latin America, Europe, Israel, China, India, Australia, and Korea. To date, QPrize finalists have raised more than US$239 million collectively over the years.
JANDI qualified for the global final held in San Diego by winning the regional QPrize at beGlobal, Seoul, Korea’s largest tech startup conference. JANDI was named the first ever Korean IT startup to win the competition’s grand prize.
Behind JANDI’s victory is a growing demand for B2B communication and collaboration tools. In Asia, unlike the US and Europe, enterprise SaaS penetration is still very low. As a stopgap, employees have turned to using a mishmash of software tools that are not well suited for group workflow. JANDI’s QPrize win is a strong acknowledgement of the opportunity to create the next go-to enterprise software provider developed in-country and catering solely to Asia.
“Once the pitch component of QPrize was finished, it became clear that JANDI had impressed the panel of judges,” said James Kwon, director of Qualcomm Ventures Korea. “JANDI addresses unique needs of employees as well as employers with solutions very specific to Asian, which other current solutions don’t.”
JANDI’s QPrize win is a rare feat amongst Korean startups competing against global competition and subsequently points at the direction of growth of the Korean startup ecosystem. “There are almost no true enterprise SaaS companies built in and focused on the Asian region,” said Daniel Chan, CEO of JANDI. “While C2C products have a number of success cases, B2B does not. It is a self-fulfilling prophecy – talent and capital do not flow to startups focused on the B2B space, so no great products come from B2B startups in Asia. We have the opportunity to change that.”
Currently, more than 20,000 teams are using JANDI across Asia, primarily in Japan, Korea, and Taiwan.