We will grow into a global databases operations and analysis corporations.
Datagrit is a startup that develops databases operations and analysis software. CEO Jo O-uk co-founded the company with Chief Technology Officer (CTO) Song Ji-yong in Oct. last year. In particular, Jo worked as an engineer not only in databases system management and operations but also in analysis and research and development. He experienced the entire databases market, and that know-how became the background for founding Datagrit. Afterward, Chief Product Officer (CPO) Nam Kyung-uk and Principal Engineer Kim Min-chan joined the company.
Currently, four people are developing a data operations and analysis program. They go to work at 4 a.m. and work until 7 p.m. Jo said, "We are working harder than any corporations," and added, "It is possible because we have a goal of becoming the world's top databases corporations."
Datagrit's strength is that it can develop both operations and analysis solutions. Basically, the databases market is divided into corporations that manage and operate, and corporations that analyze. There are specialties, and each field builds its own technological capabilities. But from a client's perspective, this dual structure acts as a factor that increases expense. Jo identified this market-structure problem and supports both databases operations and analysis.
Jo explained by citing the smartphone market as an example. "It is like how Samsung Galaxy and Apple iPhone are not compatible. The current databases market is like that. You have to build an integrated pipeline for management and operations, and you need a separate system to analyze the data. But Datagrit has 100% compatibility between operations and analysis."
Jo went on to say, "Corporations' data engineers should focus on their main job of analyzing data, but they spend most of their time on maintaining the data integrated pipeline," and added, "With our solution, they will be able to focus more on data analysis." According to market research firm Gartner, 56% of a data analysis engineer's daily work is maintaining data pipelines.
Datagrit will launch the databases operations and analysis solution "Grit DB" in Dec. It is a free version for the cloud environment. Customers range from enterprise resource planning (ERP) and customer relationship management (CRM) corporations to general corporations in manufacturing, distribution, and sales. It also plans to offer a customized solution for corporations that manufacture products in a private environment and are reluctant to use external public clouds.
Jo raised an investment of 100 million won last year. The company is currently preparing to enter the United States. The goal is to raise investment in the United States next year and enter the local market.
Jo also said, "Korea is very conservative not only about technology but also about changing existing solutions. In contrast, in the United States, if a good data analysis platform comes out, they try it and switch if it's good," adding, "For us to enter, the United States, with this kind of corporate culture, is more suitable."
Jo also said, "In the domestic market, when people say databases corporations, most are in operations," adding, "There are not many corporations that do analysis. In the domestic market, there are not many venture capital (VC) firms that invest in databases operations and analysis corporations."
Jo's short-term goal is to post more than 1 billion won in revenue next year. After that, the plan is to enter not only the United States but also the global market and rise as global databases operations and analysis corporations.