Barogo

About Barogo

Barogo, established in 2014, operates as a significant player in South Korea's last-mile logistics market. The company provides on-demand, hyperlocal delivery services primarily for food and beverage businesses, positioning itself as a key B2B partner for merchants. Its client roster includes major brands such as McDonald's, Burger King, and KFC, highlighting its capacity to handle large-scale delivery operations. Barogo's business model centers on a technology platform that connects businesses with a network of delivery riders. This ecosystem is supported by a web-based interface for businesses to manage delivery operations and a mobile application for riders. Revenue is generated through commissions from delivery drivers who are matched with orders via the platform.

The company's core service is a last-mile delivery solution that offers businesses a way to provide home delivery without maintaining their own fleet. This is facilitated through a network of over 1,800 hubs and more than 41,000 registered drivers across the nation, managed by an integrated control center to handle issues in real-time. The platform utilizes an optimized dispatching solution to ensure efficient and speedy deliveries. Beyond its primary delivery function, Barogo has expanded its services to create a more comprehensive ecosystem for its partners. This includes operating 'Urban Kitchen', a shared kitchen concept, and launching 'Allstar POS', a point-of-sale system, to help merchants streamline their operations. These initiatives indicate a strategic move towards becoming a meta-logistics platform, integrating both online and offline services.

Financially, Barogo has demonstrated consistent growth and attracted significant investment. The company has successfully raised substantial capital through multiple funding rounds, including a Series C round of $71.7 million in 2021, with investors like CJ Investment, 11st, and LB Investment participating. Total funding amounts have been reported between $101 million and $178 million. Strategic acquisitions have been a key part of its growth, including the takeovers of delivery platforms 'Moaline' and 'Dealver'. These moves have consolidated its market position and expanded its operational footprint, reaching over 21 million monthly deliveries.