Fortune-telling Consultation Brokerage Platform 'Cheonmyeong' Secures 5 Billion KRW Series A Funding

Altos Ventures Leads Investment

[Asia Economy Reporter Kim Cheol-hyun] Cheonmyeong & Company (CEO Yoo Hyun-jae and Jeon Jae-hyun), which operates the fortune-telling consultation brokerage platform 'Cheonmyeong,' announced on the 19th that it has secured a Series A investment worth 5 billion KRW from Altos Ventures and Spring Camp. This investment was led by Altos Ventures, a US-based venture capital firm that has invested in leading domestic IT companies, with existing investor Spring Camp also participating in the follow-up investment.

Cheonmyeong provides consultation services by fortune-telling experts such as shamanistic fortune-telling, saju (Four Pillars of Destiny), and tarot, who have passed strict verification procedures. Cheonmyeong focused on the inconvenience in the existing market where customers had no choice but to rely on subjective judgments such as word-of-mouth and personal recommendations to assess the quality and characteristics of consultations provided by fortune-telling experts. To resolve this, it offers personalized fortune-telling expert recommendations based on machine learning and a consultation review feature using voice recognition technology. Additionally, it presents a differentiated fortune-telling consultation brokerage service through a full refund policy for unsatisfactory consultations.

For service providers, the fortune-telling experts, Cheonmyeong enables them to reliably attract new customers and reduce unnecessary operational work hours such as responding to consultation reservations and schedule adjustments. In fact, the number of fortune-telling experts generating transaction amounts exceeding 5 million KRW per month through Cheonmyeong is increasing. Since its service launch, Cheonmyeong has shown a quarterly average transaction growth rate of 2x over the past two years. Currently, there are approximately 800 registered fortune-telling experts and about 400,000 monthly active users (MAU).

Oh Moon-seok, partner at Altos Ventures, said, "Fortune-telling has been an area with information asymmetry for both suppliers and demanders. We decided to invest in Cheonmyeong because we believe the team empathizes with the formalization of the fortune-telling industry, builds strong bonds with industry workers and customers, and strives to ensure safe connections and enhance service quality."

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