Korean startup included in FT ranking of 500 AP high-growth firms
The Financial Times picks a total of 500 companies in the Asia-Pacific region with the highest growth potentials every year, and South Korea’s 42Maru joined the list in 2022.
The Seoul-based tech startup has ranked at No. 74, which is an outstanding exploit because a company listed in the top 100 should double its annual sales for three years.
And 42Maru met the requirements because its revenue growth rate amounted to 107.1 percent a year during 2017 and 2020.
The Financial Times checked up to 15,000 corporations to shortlist 500 top-growth enterprises in 13 Asian countries, excluding China.
42Maru, established in 2015, is a high-tech startup, which focuses on artificial intelligence. It has developed a platform, which precisely understands users’ intention of question based on deep learning technology.
Many global firms have adopted the platform, which can derive only one answer from vast unstructured data.
Included in its customers’ list are Kia, KT, SK Innovation, LG Uplus, Nonghyup Bank, and Daewoo Shipbuilding & Marine Engineering, to name but a few.
Its company title came from The Hitchhiker’s Guide to the Galaxy. In the bestseller written by Douglas Adams, the all-knowing AI Deep Thought comes up with 42 as the ultimate answer to life, the universe, and everything.
“Our growth potential was recognized once again,” 42Maru CEO D.K. Donghwan Kim said. “We will focus on improving the answering AI platform based on SaaS so as to resume our global businesses.”