Adforus Secures KRW 6 Billion in Investment, Accelerates Search for New Growth Engines

Adforus, an artificial intelligence (AI) platform company, has secured investment to support further growth.

On October 22, Adforus announced that it had decided to issue its second series of privately placed, unsecured, unregistered convertible bonds (CBs) worth KRW 6 billion. Both the coupon rate and the maturity yield are 0%, and the conversion price is KRW 6,894 per share, a 10% premium over the existing share price. Institutional investors, including Orion Asset Management, Suseong Asset Management, and Life Asset Management, decided to invest.

Adforus will use the funds to identify new growth engines. It will apply AI technology to its existing platform to improve profitability and support additional research and development (R&D). Through these efforts, the company plans to accelerate its transition to a real-time bidding (RTB)-based platform. The company said the new funding could also enable further mergers and acquisitions (M&A) to secure new growth engines.

The company will also continue to target global markets. With partnerships with global companies such as Google at the center of its strategy, Adforus recorded a 123% year-over-year increase in cumulative overseas transaction volume through July this year. Its strategy is to grow overseas sales by integrating its platform with demand-side platforms (DSPs) in the United States and Japan and strengthening its local networks.

A company representative said, "We successfully secured this investment from institutional investors in recognition of our recent entry into a phase of full-fledged earnings growth. With revenue growth expected as results from On the Planet are reflected in the second half of the year, we will also pursue various policies to enhance shareholder value going forward."

This content was produced with the assistance of AI translation services.