Wello
Wello is a South Korean AI Gov-Tech company offering WelloBiz SaaS and a consumer service for matching users to government support programs, public procurement bids, and investors. It targets Korean SMBs and mid-market firms accessing approximately 30 trillion KRW in annual government programs.
- Company typePrivate
- Founded2021
- HeadquartersSeoul, South Korea
- Headcount11–50
- GTM typeB2B and B2C
- OfferingSoftware
What Wello does
Wello Inc. ((주)웰로) is a South Korean AI-based Gov-Tech company founded in 2021 that operates a dual-sided platform connecting individuals and businesses to Korean government policy, procurement, and funding opportunities. Its core products are Wello (웰로), a consumer-facing AI service for personalized government policy recommendations, and WelloBiz (웰로비즈), a B2B SaaS platform for companies to discover government support programs, manage public procurement bids, match with investors, and coordinate project documents and schedules. The underlying technology combines NLP (summarizing 55-page government notices in approximately 10 seconds), a recommendation engine matching company profiles to eligible programs, and knowledge retrieval aggregating data from 12+ Korean government portals including 나라장터 (KONEPS), G2B, KSTARTUP, and SMPP. The platform tracks approximately 30 trillion KRW in annual government support programs, 220 trillion KRW in procurement projects, and 10 trillion KRW in startup funds. The product ecosystem also includes WelloAPI for programmatic developer access and Wello Ads as a related advertising sub-brand.
Wello's business model is a tiered SaaS subscription with a freemium entry point (7-day free trial, free sign-up), a premium subscription tier unlocking full platform features, and a high-touch "Concierge" managed-service tier with 1:1 dedicated account managers and former evaluation-committee experts who assist with strategy and proposal writing. Pricing is not publicly disclosed; Concierge is quote-based. Distribution is hybrid: product-led growth via wellobiz.com self-serve for SMBs and individual users, paired with enterprise field sales for the Concierge tier. Primary customer segments are Korean SMBs and mid-market companies (the platform references a target market of 7 million businesses), companies engaged in public procurement, startups seeking investment, and individual citizens seeking welfare policy information. Marketing channels are content (in-site blog/insights with customer case studies), organic SEO for Korean government-related terms, and email notifications. The company holds ISMS-P, ISO 27001, ISO 27701, and ePRIVACY certifications, enabling enterprise and government-adjacent sales.
Wello is headquartered in Sejong Special Self-Governing City, South Korea, has 11-50 employees, and currently operates solely domestically with stated plans for international expansion of Korean-style public policy services. The company has raised four funding rounds: a 2021 pre-seed from ENSL Partners, a 2022 TIPS Program inclusion, a July 2023 pre-Series A led by Korea Investment Partners with Korea Credit Guarantee Fund, and a September 2024 Series A with participation from Korea Investment Partners, Korea Credit Guarantee Fund, WeVentures, Shinhan Venture Investment, and Fast Ventures (amounts undisclosed). Series A proceeds are earmarked for domestic service expansion and international growth. Wello is led by CEO Kim Yu-ri Anna and remains a privately held independent company with no identified parent.
Wello firmographics
Firmographics- Name
- Wello
- Legal name
- (주)웰로
- Website
- https://wellobiz.com
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Wello is a South Korean AI Gov-Tech company offering WelloBiz SaaS and a consumer service for matching users to government support programs, public procurement bids, and investors. It targets Korean SMBs and mid-market firms accessing approximately 30 trillion KRW in annual government programs.
- Ownership category
- akta.pro rank
Wello industry classification
Industry- Product category
- Gov-Tech / Government Business Solutions
- NAICS
- Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (5182)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- IT Knowledge Management & Service Desk Platforms (HDAEALAH)
- akta.pro secondary industry
- IT Service Management (ITSM) Platforms (HDAEALAA)
Keywords
Where Wello is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
Wello business model
Business model- GTM type
- B2B and B2C
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS Subscription (WelloBiz): Wello operates a tiered SaaS subscription model under the WelloBiz brand. The platform offers a free entry tier (free trial/join) with paid premium and concierge tiers providing enhanced services such as dedicated account management, expert strategy design, and full proposal preparation support. The platform aggregates data on government support programs (annual ~30 trillion KRW), procurement projects (annual ~220 trillion KRW), and startup funds (annual ~10 trillion KRW), monetizing access to these opportunities for businesses.
- Professional Services (Concierge): The 'Concierge' (컨시어지) service provides 1:1 dedicated account managers and expert consultants who assist with program selection, business plan writing, and proposal document preparation. This high-touch service layer functions as a professional services revenue stream bundled with premium subscriptions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Free trial tier with limited access |
| Subscription | Monthly | Premium SaaS subscription |
| Hybrid | Annual | Concierge / Pro Plus managed service |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels3 records
Wello product offering
Product offeringCore offering
Wello operates an AI-based Gov-Tech platform that aggregates Korean government support program, public procurement, and startup fund data to deliver personalized recommendations. Through the Wello consumer app and the WelloBiz SaaS platform, it helps individuals discover welfare benefits and helps companies find, prepare bids for, and manage government-funded projects and investment opportunities. A premium Concierge add-on provides dedicated account managers and expert-led strategy, business plan, and proposal support.
Product overview
Wello Inc. (주)웰로 is a South Korean AI-based Gov-Tech company offering two primary product lines: (1) Wello (웰로) — a consumer-facing AI service for personalized government policy discovery and benefits management, and (2) WelloBiz (웰로비즈) — an all-in-one B2B SaaS platform for companies managing government support programs, public procurement bidding, and investment matching, with a premium Concierge add-on offering dedicated human advisory services. The ecosystem also includes WelloAPI for developer access and Wello Ads as a related advertising sub-brand. The company connects individuals and businesses to public policy data sourced from over a dozen government agencies and procurement portals, with claimed annual government support of approximately KRW 30 trillion and procurement volume of approximately KRW 220 trillion.
Differentiator
Problem solved
Functional benefit
Brands
- Wellobiz (웰로비즈): AI-powered all-in-one business growth platform for enterprises to find and manage government support programs, public procurement bidding, and investment opportunities
- WelloAPI
- Wello Ads (웰로 애즈)
Products and services
- Wello (웰로)
Quantifiable outcome
- AI summarization reduces 55-page government notice review time to approximately 10 seconds, cutting overall business exploration time by over 50%
- +2 more outcomes
Companies that use Wello
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles4 records
Wello technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability5 records
Feature5 records
Wello partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights6 records
Wello competitors and assessment
Company assessmentDirect peers
- 정부24 (Government 24): Korea's official government services portal providing citizens and businesses access to government policies, welfare benefits, and administrative services. Wello competes directly with the policy discovery and welfare recommendation functionality, while differentiating via AI summarization and a unified B2B workflow.
- K-Startup (K스타트업): Korea's official startup and entrepreneur support platform operated by the Ministry of SMEs and Startups, aggregating government support programs, funding opportunities, and startup resources. Overlaps directly with Wello's startup and growth-stage company segments for funding discovery and IR support.
- 중소벤처기업부 Bizinfo (창업넷): Korea's official SME business information portal aggregating government support programs, subsidies, and procurement opportunities. Operated by the Ministry of SMEs and Startups, it serves as the public-sector counterpart to Wello's B2B SaaS, with Wello differentiating on AI matching and concierge proposal services.
Broad incumbents
- OpenGov: US-based GovTech company providing cloud software to state and local governments for budgeting, transparency, and citizen engagement. Comparable as a GovTech platform monetizing government-related data and workflows, though focused on US government buyers rather than Korean SMBs.
- Granicus: US GovTech SaaS provider offering government communications, public meeting management, and citizen experience platforms. Comparable as an established GovTech SaaS platform with a workflow and document-management orientation that parallels WelloBiz's project scheduling and document tools.
- Ironclad: US contract lifecycle management SaaS used by enterprises including public-sector-adjacent organizations. Comparable on the document management, proposal preparation, and workflow automation functionality of WelloBiz Concierge, but with broader enterprise focus.
Emerging players
- Procurify: Canada-based procurement management SaaS for SMBs covering purchase orders, vendor management, and spend analytics. Comparable on the public procurement/bid management functionality Wello offers, but Procurify focuses on private-sector spend management rather than government bidding.
- Gatekeeper: Vendor and contract lifecycle management SaaS supporting procurement, compliance, and supplier workflows for mid-market companies. Overlaps with WelloBiz's vendor/investor discovery and document management capabilities.
- Civilla: US-based civic technology organization building user-centered government services and digital tools. Adjacent to Wello's mission of improving government-to-citizen and government-to-business interactions, though focused on government-facing delivery rather than SMB-facing discovery.
Regional players
- TenderNed: Dutch national public procurement platform where companies can find and bid on government tenders. Operates the same discover-and-bid-on-public-procurement core that WelloBiz offers, but as an official government-run platform in the Netherlands rather than a private B2B SaaS in Korea.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Wello social profiles
Digital presenceWello compliance and trust
Trust signalCompliance4 records
Wello financial estimates
Financial estimateRevenue estimate
Valuation estimate
Wello leadership team
Management profileNumber of profiles
Profiles1 record
Wello funding detail
Funding detailFunding overview
Funding rounds4 records
Investors7 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Wello M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Wello
What does Wello do?
Wello operates an AI-based Gov-Tech platform that aggregates Korean government support program, public procurement, and startup fund data to deliver personalized recommendations. Through the Wello consumer app and the WelloBiz SaaS platform, it helps individuals discover welfare benefits and helps companies find, prepare bids for, and manage government-funded projects and investment opportunities. A premium Concierge add-on provides dedicated account managers and expert-led strategy, business plan, and proposal support.
Is Wello a public or private company?
Wello is a private company. It is classified as venture growth investor backed and is currently operating.
When was Wello founded?
Wello was founded in 2021. It employs 11 to 50 people.
Where is Wello based?
Wello is headquartered in Seoul, South Korea, in the Asia region.
How does Wello make money?
Two revenue lines are on record. SaaS Subscription (WelloBiz) is the primary driver. The others are professional Services (Concierge).
Who are Wello's main competitors?
Direct peers on record are 정부24 (Government 24), K-Startup (K스타트업) and 중소벤처기업부 Bizinfo (창업넷). Broad incumbents are OpenGov, Granicus and Ironclad. Emerging players are Procurify, Gatekeeper and Civilla. TenderNed is listed as a regional player.
Does Wello have an API?
Yes. Wello offers a public API product under the brand WelloAPI (https://www.welloapi.com), enabling developers and partners to access and integrate Wello's policy data and services programmatically. Developer documentation is at www.welloapi.com.
What industry is Wello in?
Wello's product category is Gov-Tech / Government Business Solutions. Its primary akta.pro industry code is HDAEALAH, IT Knowledge Management & Service Desk Platforms, with a secondary code of HDAEALAA, IT Service Management (ITSM) Platforms. Its NAICS code is 5182 and its SIC code is 7370.