Abyss Company, an entertainment company home to Sunmi and Dara, has attracted investments and received a high valuation. The company has been valued at 100 billion KRW (~84 million USD). Many Korean entertainment companies are garnering attention from investors thanks to the surge of K-pop and the Hallyu Wave.

According to venture capital industry analysts on January 25, Abyss Company agreed to raise 25 billion KRW (~21 million USD) for a Series B investment from several venture capital companies. LB Investment, Korea Investment Partners, Yuanta Investment, Login Investment, Daesung Startup Investment, and Timewise Investment participated in this investment round.

With this, Abyss Company has a post-valuation of 100 to 110 billion KRW (~84 to 92 million USD). In a little over a year, the company's valuation has doubled compared to the time of the Series A investment of 14.5 billion KRW (~12.1 million USD), which attracted Korean Investment Partners, Aju IB Investment, and Daesung Startup Investment in October 2020.

Abyss Company was established in 2019 and is home to various Korean celebrities, including Sunmi, former 2NE1 member Dara, Urban Zakapa, BamBam, and Park Won. In the past, the company was in the business of planning performances, exhibitions, and events. However, it pivoted after acquiring the entertainment company Makeus Entertainment early last year and has established itself as a major entertainment company. Abyss Company is currently being managed by Lee Dong Hyung, the former CEO of Makeus Entertainment. Recently, he hired Lee Joon Won, who was in charge of rookie development at YG Entertainment, to strengthen their capabilities to discover new idol talent.

The company also manages 'Damwon KIA Gaming,' the eSports game team. Damwon KIA Gaming won 2 consecutive championships in the League of Legends Champions Korea (LCK). The gaming team also won the 2020 World Championship and reached the finals of the 2021 MSI Championship and 2021 World Championship. Additionally, Abyss Company entered the non-fungible token (NFT) business with the collaboration with FSN, a marketing company.

The investment industry has gathered its attention on the 'Expandability' of the Abyss Company. It has been judged that the company will be able to increase its momentum beyond being a simple entertainment agency and grow to be a diversified company using its eSports and NFTs. An official from the venture capital industry explained, "The reason Abyss company was recognized for its corporate value of 100 billion KRW within just three years of its establishment is that we are expecting an explosive growth in the future based on the fandom accumulated through the management of the eSports team as well as their ability to produce artists."

In fact, various successful agencies are emerging following HYBE Corporation as the popularity of K-pop continues to grow. MAMAMOO's agency RBW, which succeeded in listing on the KOSDAQ market at the end of last year, has a market capitalization of around 200 billion KRW (~167 million USD) in the stock market. Brave Entertainment, home to Brave Girls, is also in the process of going public as they are pursuing a pre-IPO.