[IPO Spotlight] MoaData "Leap to a Global AI Specialist Company"

Sangjin Han, CEO of Moadata.

[Asia Economy Reporter Jang Hyowon] MoaData, an AI specialized company based on anomaly detection technology, held an online press conference on the 21st and announced its growth strategy after listing on KOSDAQ.

MoaData is a company that provides anomaly detection and prediction solutions using artificial intelligence (AI) technology. Its core businesses are divided into two main areas: ▲ AI-based IT management system (AIOps) ‘PETAON Forecaster’ and ▲ health anomaly prediction service ‘FloFit’.

‘PETAON Forecaster,’ developed with MoaData’s proprietary technology, is a next-generation IT management system that combines AI technology and big data. It features real-time data collection from corporate ICT infrastructure environments to predict system errors and analyze root causes, while also providing response guides for system anomalies using AI.

With the rapid changes in the ICT environment making operation and management difficult, PETAON Forecaster, which enables efficient management analysis and proactive failure prevention of ICT systems, is gaining attention in the industry. Currently, it has over 250 clients including public institutions and major domestic corporations, and plans to expand its market share through entry into the SaaS market within private and public cloud systems and global market expansion.

MoaData expanded its business into the healthcare sector by launching the health anomaly prediction service ‘FloFit,’ which utilizes AI anomaly detection technology. ‘FloFit’ is a service developed to collect and analyze users’ health data in real time to detect early signs of health abnormalities.

In March last year, MoaData signed a memorandum of understanding (MOU) with a major domestic logistics and distribution company to provide customized health services using ‘FloFit,’ and is preparing to expand its healthcare business area targeting insurance companies and general enterprises in the future.

Despite being a technology-specialized listed company, MoaData has maintained operating profits for six consecutive years since 2016, and its sales growth rate exceeded 50% annually from 2018 to 2020. In 2020, sales reached 13.8 billion KRW and operating profit was 3.1 billion KRW. For the cumulative sales up to the third quarter of 2021, sales were 14.4 billion KRW and operating profit was 2.1 billion KRW.

Maintaining a strong performance growth trend, MoaData plans to solidify its market dominance by stably operating existing businesses while entering new business areas. Following the enforcement of the Serious Accident Punishment Act, demand for anomaly detection systems in factories has surged, and MoaData is preparing to enter the smart factory business. Additionally, to accelerate global market entry of its healthcare AI platform after listing, it plans to complete the establishment of a joint venture (JV) with a Polish company within this year.

Han Sangjin, CEO of MoaData, stated, “With the enforcement of the Serious Accident Punishment Act in the industrial safety field, technology to detect and predict anomalies has become not a choice but a necessity. Accordingly, after listing, we will apply anomaly detection technology to various industries and leap forward as a leading AI anomaly detection company.”

Meanwhile, MoaData’s total number of shares offered is 800,000, with a desired public offering price per share of 24,000 to 28,000 KRW, and a total public offering amount of 19.2 billion to 22.4 billion KRW. Institutional demand forecasting will be conducted over two days until the 22nd to finalize the public offering price, followed by general subscription on the 25th and 28th, and the company is scheduled to be listed on the KOSDAQ market in early March. The lead underwriter is Hana Financial Investment.

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