This Kurly company profile covers the company's valuation, revenue, funding rounds, investors and history. Kurly works in e-commerce, with a focus on online grocery and beauty. It was founded in 2014 and is headquartered in Seoul, Seoul, South Korea. Its latest valuation on record is About 2.8 trillion won (about US$2 billion) (May 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
About 2.37 trillion won (about US$1.7 billion) — Annual revenue, 2025, as of 2025. Source: The Korea Herald.
| Metric | Value | As of | Source |
|---|---|---|---|
| Profitability | Operating profit of 13.1 billion won in 2025, its first annual operating profit, and 51.6 billion won in the first half of 2026 | First half 2026 | The Korea Herald |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| May 2026 | Strategic investment | 33 billion won | About 2.8 trillion won (implied) | Naver | The Korea Herald |
| 2023 | Pre-IPO | See source | About 2.9 trillion won | Anchor Equity Partners | KED Global |
Kurly timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2014 — Kurly is founded in Seoul by Sophie Kim (Kim Seul-a, CEO).
- 2023 — Pre-IPO: See source, valuing the company at About 2.9 trillion won. Investors: Anchor Equity Partners.
- May 2026 — Strategic investment: 33 billion won, valuing the company at About 2.8 trillion won (implied). Investors: Naver.
- First half 2026 — Profitability: Operating profit of 13.1 billion won in 2025, its first annual operating profit, and 51.6 billion won in the first half of 2026.
Investors
Overview
Kurly is a South Korean online grocery and lifestyle retailer best known for Market Kurly, a premium grocery app that pioneered "dawn delivery" in Korea: customers order by late evening and receive fresh food at their door before 7 a.m. the next morning. It focuses on curated, high-quality products, many sourced from small producers or developed as private labels, with strict quality control and cold-chain logistics. It has expanded into beauty through Beauty Kurly and into other categories and services. After years of losses, Kurly reported its first annual operating profit in 2025. In May 2026, an investment by Naver implied a valuation of about 2.8 trillion won.
Sophie Kim (Kim Seul-a), the CEO, founded Kurly in 2014. Kim previously worked in finance before starting the company. A food enthusiast, she started Market Kurly to make high-quality fresh food available to busy urban households, initially targeting working parents in Seoul.
Products
- Market Kurly: online grocery with fresh produce, meat, seafood, prepared meals and premium products.
- Dawn delivery (Saebyeok Baesong): overnight delivery of orders placed by late evening.
- Beauty Kurly: online beauty and cosmetics retail with authenticity guarantees.
- Kurly Members: a paid membership with discounts and benefits.
- Logistics services: third-party fulfilment for other companies using its cold-chain network.
Funding
Kurly raised from investors including Hillhouse, Sequoia Capital China, DST Global and Aspex, with its valuation reaching up to about 4 trillion won in 2021. In 2023, a pre-IPO investment from Anchor Equity Partners valued it at about 2.9 trillion won, and it postponed a planned IPO amid weak market conditions. In May 2026, Naver invested 33 billion won through a share allotment, deepening a partnership that brought Kurly into Naver's shopping ecosystem; the Korea Herald reported that the deal implied a valuation of about 2.8 trillion won, roughly in line with the 2023 level.
Revenue and profitability
Kurly reported 2025 revenue of about 2.37 trillion won and an operating profit of 13.1 billion won, its first full-year operating profit since its founding. In the first half of 2026, it reported operating profit of 51.6 billion won, nearly four times the 2025 annual figure. The turnaround came from cost discipline, growth in higher-margin categories such as beauty, logistics services and its partnership with Naver.
Business model
Kurly earns revenue from product sales, with margins depending on its mix of fresh food, private labels and beauty. Membership fees and fulfilment services for other companies add revenue. Its cold-chain logistics, including temperature-controlled warehouses and delivery fleets, are expensive but form a core advantage for fresh food quality. Scale and operational efficiency determine profitability.
Competition
Kurly competes with Coupang, Korea's largest e-commerce company, which offers fast delivery including fresh food through Rocket Fresh; with SSG.com (Shinsegae), Lotte ON, Homeplus and Emart; with Naver's own shopping services, now partly a partner; and with Olive Young and others in beauty. Its strengths are a premium brand, curated assortment and loyal customers.
Kurly at a glance
Kurly is a Seoul online grocery and beauty retailer founded in 2014 by Sophie Kim, known for Market Kurly's dawn delivery. It reported 2025 revenue of about 2.37 trillion won and its first annual operating profit. Naver's May 2026 investment implied a valuation of about 2.8 trillion won, below its 2021 peak.
Timeline
- 2014: founded; launches Market Kurly in 2015.
- 2015–2019: grows dawn delivery in Seoul and builds cold-chain logistics.
- 2021: valuation reaches up to about 4 trillion won.
- 2022: launches Beauty Kurly.
- 2023: postpones IPO; pre-IPO investment at about 2.9 trillion won.
- 2025: first annual operating profit; partnership with Naver.
- May 2026: Naver invests at an implied 2.8 trillion won.
Dawn delivery and Korean e-commerce
South Korea has one of the world's most developed e-commerce markets, with dense cities, high smartphone use and customers accustomed to very fast delivery. Kurly's dawn delivery became so popular that competitors including Coupang and large retailers launched similar services. Fast fresh delivery is costly, requiring cold storage, careful packaging and night-time logistics, and price competition has been intense. Kurly's focus on quality and curation helps it charge premium prices.
IPO outlook
Kurly's IPO plans have been delayed several times. The Korea Herald reported in 2026 that talks with underwriters continued, but valuation concerns and timing remained uncertain. Its improved profitability could support a listing if market conditions allow.
Who uses Kurly
Kurly's customers are mainly urban Korean households, particularly working professionals and families who value quality fresh food and convenience, along with beauty shoppers.
Valuation context
Kurly's valuation fell from its 2021 peak and has been roughly flat since 2023, while profitability has improved. Coupang's public valuation provides a benchmark for Korean e-commerce.
Risks
- Competition: Coupang and large retailers have greater scale.
- Logistics costs: cold-chain delivery is expensive.
- Profit durability: profitability is recent.
- IPO timing: listing plans remain uncertain.
Questions for investors
- How sustainable is the profit improvement?
- How much growth comes from Naver's channel?
- What valuation would an IPO achieve?
The Naver partnership
Naver, Korea's largest internet company, runs the country's most-used search engine and a large shopping platform. Through their partnership, Kurly products became available within Naver's shopping ecosystem, giving Kurly access to a much larger audience while giving Naver a strong fresh grocery offering to compete with Coupang. Naver's equity investment deepened the relationship. For Kurly, the partnership reduces customer acquisition costs; the risk is greater dependence on a large partner.
Questions for shoppers
- What is the order cut-off time for dawn delivery in your area?
- Does the membership save more than it costs?
Latest developments (October 2026)
Kurly reported its best results to date in 2026. Second-quarter operating profit rose to 27.4 billion won and sales grew 27% to about 733 billion won, and first-half net profit reached 45.7 billion won, according to Herald Corp. In May, Naver invested 33 billion won at a valuation of about 2.8 trillion won, and Kurly has been talking with underwriters about an IPO, though valuation and timing remain uncertain, according to The Korea Herald.
What to watch
Watch IPO progress, profit trends, the Naver partnership and competition with Coupang.
Takeaways
Korean consumers get premium groceries by morning. Founders can see how operational focus can turn losses into profit. Investors should watch whether profits persist ahead of any listing.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Kurly do?
Kurly is a e-commerce / online grocery and beauty company headquartered in Seoul, Seoul, South Korea. It was founded in 2014.
What is Kurly's valuation?
Kurly was valued at About 2.8 trillion won (about US$2 billion) as of May 2026, according to The Korea Herald. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Kurly make?
Kurly reported About 2.37 trillion won (about US$1.7 billion) (annual revenue, 2025) as of 2025, according to The Korea Herald.
What was Kurly's latest funding round?
The most recent financing we have verified is a strategic investment in May 2026: 33 billion won, at a valuation of About 2.8 trillion won (implied). Source: The Korea Herald.
Who are Kurly's investors?
Investors named in public announcements include Naver, Anchor Equity Partners, Hillhouse, Sequoia Capital China, DST Global and Aspex.
Who founded Kurly?
Kurly was founded in 2014 by Sophie Kim (Kim Seul-a, CEO).
Is Kurly a public company?
No. Kurly is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Kurly headquartered?
Kurly is headquartered in Seoul, Seoul, South Korea.