South Korean table-order platform t’order secures US$23M in Series B funding round

SOUTH KOREA – Table-ordering service provider t’order has announced it has secured US$23 million in Series B funding round meant to facilitate the SaaS provider’s global expansion.

The Series B funding round marked a significant milestone for t’order, achieving a valuation of $230 million despite challenges in South Korea’s startup investment market.

The round saw participation from notable investors such as the Korea Development Bank and LB Investment, signaling strong confidence in t’order’s potential for accelerated growth. 

Investors have been particularly drawn to t’order’s strategic diversification beyond the restaurant industry, with ventures into the hospitality and advertising sectors.

This adaptability is considered a key factor in the company’s prospects for growth both domestically and internationally.

Following this initial funding, t’order is now seeking additional investments from global venture capital firms, including thse in Silicon Valley. 

Austin Kwon, CEO of t’order, highlighted the company’s expansion strategy, stating, “Our ability to diversify our business model – extending beyond the food service sector to hospitality – has been key in attracting positive investor sentiment. With interest from global investors, we are focused on delivering strong international performance.” 

Since its establishment in 2019, t’order has secured more than 60% of South Korea’s table-ordering market. The company’s 2023 financial report showcased a revenue increase of 77% compared to the previous year, reaching US$45.8 million.

Yongwoon Kim, Vice President and COO, described the Series B funding as a transformative moment, stating, “As the market leader in the domestic table-ordering sector, we are committed to exploring new opportunities within the industry while expanding globally.” 

Domestically, t’order provides SaaS-based solutions to corporations, VAN providers, and POS companies.

The company established a Canadian subsidiary in 2022 and began operations in the U.S. market in 2024, reflecting its growing international presence. 

Global demand for t’order’s solutions has been driven by increased adoption of digital tools in the food service industry, higher dining-out rates post-pandemic, and the system’s ability to enhance efficiency by reducing staff movement and increasing table turnover.

Following its success in Canada, where its tablet-ordering system has been widely adopted by local restaurants, t’order plans further expansions across Asia, Europe, and other regions to capitalize on its momentum.

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