This article was published on Oct. 27, 2025, at 11:28 a.m. on the ChosunBiz MoneyMove site.
Crescendo Equity Partners (hereafter Crescendo), a domestic private equity firm (PEF), will make a 90 billion won investment in MindwareWorks, an artificial intelligence (AI) contact center platform corporation. MindwareWorks plans to use the investment for research and development, global market expansion, and mergers and acquisitions (M&A).
On the 27th, banking industry sources said Crescendo invested 30 billion won in MindwareWorks through its third blind fund of about 1.1 trillion won, raised in Dec. 2021. The remaining 60 billion won will be executed subsequently. MindwareWorks' corporate value and Crescendo's post-investment equity stake were not disclosed.
Founded in 2010, MindwareWorks is an SOE (service orchestration engine) platform corporation essential for operating AI contact centers (AICC) and Generative AI-based chatbots. AICC refers to an intelligent customer response system that applies AI technology to contact centers in the concept of customer service centers to automate customer response and counseling tasks and increase efficiency.
"AI agent orchestration" technology reads user intent and context and conducts conversations, supporting multiple channels integratively. The rate at which customers resolve problems on their own without agent intervention exceeds 50%, and it has demonstrated a response success rate of over 90%.
MindwareWorks has secured more than 140 customers worldwide across various industries. More than 40% of domestic first-tier financial institutions use AICC and chatbot services. In the Japanese market, it has converted into commercial customers not only global consumer electronics corporations and energy companies but also major large local governments and other public institutions.
The core product, CogInsight, helps corporations easily adopt and operate commercial natural language processing processors (NLP), large language models (LLM), and conversation-based AI services. The recently launched CogXi is a workflow solution that automates corporate business processes using Generative AI agent technology.
MindwareWorks will focus the secured investment on market expansion and research and development related to the SOE platform. Based on successful cases with established large corporations and public institutions, it plans to expand into global markets including the Asia-Pacific region as well as North America and Europe.
Crescendo is a domestic PEF operator founded in 2012 with backing from PayPal and Palantir co-founder Peter Thiel. It made a name for itself by investing in the semiconductor sector, including HANMI Semiconductor, HPSP, and Samyang NC Chem. It also invests in software industries such as AI-driven digital transformation, automation, and security. Representative portfolio corporations include Movensys (software-based motion control), Cyberdigm (document centralization and security), GMDSOFT (digital forensics), and BeaverWorks (kiosk and customer data analytics).