[Original Article] https://zdnet.co.kr/view/?no=20231123085409
CANDiY is a Customer Data Platform (CDP) that helps businesses easily and securely collect customer data and utilize it for hyper-personalized marketing. It consolidates scattered data from both online and offline sources into a single platform, allowing for customer-centric data integration and analysis.
On November 23, GeonGyu Bae, CEO of Sakak, introduced the company's 'CANDiY' solution. Sakak, a startup founded in April 2022, actually has deeper roots. Bae, who worked for 12 years as a data and privacy expert at Samsung Electronics headquarters, had long recognized the growth potential of the global data platform market.
Bae GeonGyu, CEO of Sakak, participated in building customer data platforms (CDPs) in Europe while studying privacy regulations in the U.S. and Europe, anticipating the growth of South Korea's customer data market. Even before the official founding of Sakak, Bae assembled a team of experts in IT, AI, and data to lay the groundwork for the company. To ensure the full utilization of customer data, the company also recruited psychology experts to help better understand people. Before incorporating, the team operated nomadically, working on establishing their operational foundation. After incorporation, they launched the CDP service 'CANDiY' (a combination of 'Can' and 'DIY,' meaning users can 'Do It Yourself' with data).
The company name, 'Sakak,' reflects the mission of 'illuminating blind spots.' Bae remarked, 'Through the CANDiY solution, we aim to harness the power of data and realize our vision of eliminating data blind spots, so that everyone can benefit from data. In today's marketing landscape, hyper-personalization is a must, and Sakak is uniquely positioned to deliver this.'
"To accurately identify customer needs, companies collect, analyze, and utilize customer data from various angles to gain insights. A Customer Data Platform (CDP) is a tool developed to address these market challenges. Sakak's CDP platform, 'CANDiY,' creates a Single Customer View (SCV) that enables businesses to implement hyper-personalized marketing services. Starting next year, the use of third-party data (such as website visit records and page views) will be restricted, making it more difficult for companies to achieve SCV. However, CANDiY solves this issue by securely collecting zero-party data (such as data from wearable devices, habits and lifestyle information, directly inputted interest data, and MyData), and integrating it with company data to create a more refined SCV.
Additionally, the 'CANDiY' solution complies with privacy laws when combining data and resolves related privacy risks. Beyond that, by leveraging data integration and AI technologies, it effectively implements integrated, cross-boundary, personalized customer services. CEO Bae GeonGyu commented, 'As we enter an era where data from various sectors like finance, healthcare, and education is being utilized, CANDiY is well-positioned to meet these needs.' He also highlighted the rapid growth of the domestic CDP market."
As the demand for customer-centric experiences and hyper-personalized marketing grows, the number of companies adopting Customer Data Platforms (CDPs) continues to increase. The outlook for the global CDP market is also promising. In 2021, the market was estimated to be worth $3.5 billion (approximately 4.725 trillion KRW), and it is projected to grow to $20.5 billion (about 27.07 trillion KRW) by 2027.
Currently, CDPs collect a variety of customer data much more quickly than traditional Customer Relationship Management (CRM) systems. They are capable of gathering both structured and unstructured data, including real-time streaming data, from both internal and external sources. In this way, CDPs offer a comprehensive service that combines data understanding with technical capabilities. The CDP market has been led by global companies such as Adobe, Salesforce, and Treasure Data, but South Korean companies like NHN Data's Dighty and Sakak's CANDiY are now entering the space.
Sakak's 'CANDiY' platform includes a privacy-protected MyData storage solution, which CEO GeonGyu Bae emphasizes for its exceptional privacy protection capabilities. It was even recognized as an outstanding company by the Korea Internet & Security Agency (KISA) for its technology in personal data protection and utilization. The CANDiY solution allows sensitive healthcare data to be collected and utilized without privacy issues, creating a foundation for accelerating data utilization. For instance, previously hard-to-integrate data from healthcare, education, lifestyle, and public sectors can now be safely merged using CANDiY, enabling personalized services and insights for customers. This platform also integrates AI analytics for deeper insights.
Sakak plans to further expand the application of its 'CANDiY' solution by identifying real-world services like health management and personalized healthcare services based on customer data. The company aims to grow the platform into a B2C service, allowing individuals to leverage their data to discover new services themselves, creating a self-driven data ecosystem. 'This could be an example where individuals take an active role in data utilization,' said Bae. 'Sakak is committed to being a company that manages customer data from A to Z and ensures proper utilization.'
The company’s CDP platform has already received significant recognition, winning the prestigious MyData Global Award in 2022. In July this year, Sakak was selected as a promising venture in South Korea's TIPS (Tech Incubator Program for Startups) program and recognized for its excellence in personal data protection technologies. CANDiY’s unique solution, specializing in zero-party data collection, integration, and management, is expected to gain attention as the era of limited third-party data sharing begins.
Sakak holds several patents related to MyData collection and management for hyper-personalized marketing, customer identity matching, and personal data protection technologies. The company employs experts, including a CTO with over 20 years of experience in IT, AI specialists, psychologists, and the Director of MyData Global Hub. 'Our team combines experience with expertise to continuously enhance the CANDiY solution,' said Bae.
To further expand the 'CANDiY' solution, Sakak has outlined a three-phase marketing strategy. By the end of this year, the company aims to secure partnerships and increase initial revenue by providing services through PoC (Proof of Concept) collaborations. Currently, Sakak is working with companies in sectors such as healthcare, telecommunications, energy, education, and real estate, and plans to expand its partnerships. By the second quarter of next year, Sakak expects to have over 30 companies using the CANDiY solution, with the platform applied to six or more domains, including healthcare, e-commerce, education, and advertising. The company will also continue its collaborative research efforts. Furthermore, Sakak plans to enhance its market visibility by producing CANDiY service content, operating technical blogs, and participating in global IT exhibitions and conferences.
Sakak also has plans for overseas expansion, starting with Southeast Asia, including Indonesia, Malaysia, and Singapore, and then targeting Europe and the U.S. Indonesia, in particular, with its annual growth rate of over 5%, is a key focus for Sakak’s growth strategy, due to its high potential for IT device utilization and data application. Sakak is also in discussions with MyData companies in the U.S. and Europe and intends to expand its market reach by participating in international IT exhibitions and conferences.
Sakak successfully raised seed funding in 2022 and was selected for the TIPS program in July of this year. Bae emphasized, 'We have focused on launching the CANDiY solution and securing market entry and revenue in the second half of this year, and we recently concluded our next round of investment. This indicates that Sakak is increasingly being recognized as a leading data company.' Starting next year, Sakak plans to secure Pre-A funding, with the long-term goal of becoming a leading data company in 10 areas: healthcare, telecommunications, energy, education, real estate, employment, leisure, distribution, welfare, and transportation. Sakak also aims for a KOSDAQ IPO through a technology special listing after being recognized as a data integration intermediary specializing in these fields.
Looking five to ten years ahead, Bae envisions, 'In five years, I hope CANDiY will enable everyone in Korea to access personalized services based on their data, regardless of their gender, age, or health status. Hyper-personalized services tailored to individual needs should no longer be a privilege for a select few but an everyday experience for all through CANDiY.' He added, 'In ten years, I hope the phrase "CANDiY it" will become synonymous with "I’m using my data to access services," and that people will live in a world where they safely use data to create new, unimaginable services and benefit from it on a daily basis.'
Bae also expressed gratitude for the government’s startup support policies, including programs like the Youth Startup Academy and Seoul Startup Hub, which helped Sakak expand its network and collaborate with other innovative companies. 'Thanks to the Youth Startup Academy, we have formed multiple MOUs with companies, which has greatly contributed to our growth,' he said. He also highlighted how government programs like SeSAC (Seoul Youth Employment Academy), which connects startups with young talent, have helped Sakak hire developers who are now growing alongside the company.
[Original Article] https://zdnet.co.kr/view/?no=20231123085409
CANDiY is a Customer Data Platform (CDP) that helps businesses easily and securely collect customer data and utilize it for hyper-personalized marketing. It consolidates scattered data from both online and offline sources into a single platform, allowing for customer-centric data integration and analysis.
On November 23, GeonGyu Bae, CEO of Sakak, introduced the company's 'CANDiY' solution. Sakak, a startup founded in April 2022, actually has deeper roots. Bae, who worked for 12 years as a data and privacy expert at Samsung Electronics headquarters, had long recognized the growth potential of the global data platform market.
Bae GeonGyu, CEO of Sakak, participated in building customer data platforms (CDPs) in Europe while studying privacy regulations in the U.S. and Europe, anticipating the growth of South Korea's customer data market. Even before the official founding of Sakak, Bae assembled a team of experts in IT, AI, and data to lay the groundwork for the company. To ensure the full utilization of customer data, the company also recruited psychology experts to help better understand people. Before incorporating, the team operated nomadically, working on establishing their operational foundation. After incorporation, they launched the CDP service 'CANDiY' (a combination of 'Can' and 'DIY,' meaning users can 'Do It Yourself' with data).
The company name, 'Sakak,' reflects the mission of 'illuminating blind spots.' Bae remarked, 'Through the CANDiY solution, we aim to harness the power of data and realize our vision of eliminating data blind spots, so that everyone can benefit from data. In today's marketing landscape, hyper-personalization is a must, and Sakak is uniquely positioned to deliver this.'
"To accurately identify customer needs, companies collect, analyze, and utilize customer data from various angles to gain insights. A Customer Data Platform (CDP) is a tool developed to address these market challenges. Sakak's CDP platform, 'CANDiY,' creates a Single Customer View (SCV) that enables businesses to implement hyper-personalized marketing services. Starting next year, the use of third-party data (such as website visit records and page views) will be restricted, making it more difficult for companies to achieve SCV. However, CANDiY solves this issue by securely collecting zero-party data (such as data from wearable devices, habits and lifestyle information, directly inputted interest data, and MyData), and integrating it with company data to create a more refined SCV.
Additionally, the 'CANDiY' solution complies with privacy laws when combining data and resolves related privacy risks. Beyond that, by leveraging data integration and AI technologies, it effectively implements integrated, cross-boundary, personalized customer services. CEO Bae GeonGyu commented, 'As we enter an era where data from various sectors like finance, healthcare, and education is being utilized, CANDiY is well-positioned to meet these needs.' He also highlighted the rapid growth of the domestic CDP market."
As the demand for customer-centric experiences and hyper-personalized marketing grows, the number of companies adopting Customer Data Platforms (CDPs) continues to increase. The outlook for the global CDP market is also promising. In 2021, the market was estimated to be worth $3.5 billion (approximately 4.725 trillion KRW), and it is projected to grow to $20.5 billion (about 27.07 trillion KRW) by 2027.
Currently, CDPs collect a variety of customer data much more quickly than traditional Customer Relationship Management (CRM) systems. They are capable of gathering both structured and unstructured data, including real-time streaming data, from both internal and external sources. In this way, CDPs offer a comprehensive service that combines data understanding with technical capabilities. The CDP market has been led by global companies such as Adobe, Salesforce, and Treasure Data, but South Korean companies like NHN Data's Dighty and Sakak's CANDiY are now entering the space.
Sakak's 'CANDiY' platform includes a privacy-protected MyData storage solution, which CEO GeonGyu Bae emphasizes for its exceptional privacy protection capabilities. It was even recognized as an outstanding company by the Korea Internet & Security Agency (KISA) for its technology in personal data protection and utilization. The CANDiY solution allows sensitive healthcare data to be collected and utilized without privacy issues, creating a foundation for accelerating data utilization. For instance, previously hard-to-integrate data from healthcare, education, lifestyle, and public sectors can now be safely merged using CANDiY, enabling personalized services and insights for customers. This platform also integrates AI analytics for deeper insights.
Sakak plans to further expand the application of its 'CANDiY' solution by identifying real-world services like health management and personalized healthcare services based on customer data. The company aims to grow the platform into a B2C service, allowing individuals to leverage their data to discover new services themselves, creating a self-driven data ecosystem. 'This could be an example where individuals take an active role in data utilization,' said Bae. 'Sakak is committed to being a company that manages customer data from A to Z and ensures proper utilization.'
The company’s CDP platform has already received significant recognition, winning the prestigious MyData Global Award in 2022. In July this year, Sakak was selected as a promising venture in South Korea's TIPS (Tech Incubator Program for Startups) program and recognized for its excellence in personal data protection technologies. CANDiY’s unique solution, specializing in zero-party data collection, integration, and management, is expected to gain attention as the era of limited third-party data sharing begins.
Sakak holds several patents related to MyData collection and management for hyper-personalized marketing, customer identity matching, and personal data protection technologies. The company employs experts, including a CTO with over 20 years of experience in IT, AI specialists, psychologists, and the Director of MyData Global Hub. 'Our team combines experience with expertise to continuously enhance the CANDiY solution,' said Bae.
To further expand the 'CANDiY' solution, Sakak has outlined a three-phase marketing strategy. By the end of this year, the company aims to secure partnerships and increase initial revenue by providing services through PoC (Proof of Concept) collaborations. Currently, Sakak is working with companies in sectors such as healthcare, telecommunications, energy, education, and real estate, and plans to expand its partnerships. By the second quarter of next year, Sakak expects to have over 30 companies using the CANDiY solution, with the platform applied to six or more domains, including healthcare, e-commerce, education, and advertising. The company will also continue its collaborative research efforts. Furthermore, Sakak plans to enhance its market visibility by producing CANDiY service content, operating technical blogs, and participating in global IT exhibitions and conferences.
Sakak also has plans for overseas expansion, starting with Southeast Asia, including Indonesia, Malaysia, and Singapore, and then targeting Europe and the U.S. Indonesia, in particular, with its annual growth rate of over 5%, is a key focus for Sakak’s growth strategy, due to its high potential for IT device utilization and data application. Sakak is also in discussions with MyData companies in the U.S. and Europe and intends to expand its market reach by participating in international IT exhibitions and conferences.
Sakak successfully raised seed funding in 2022 and was selected for the TIPS program in July of this year. Bae emphasized, 'We have focused on launching the CANDiY solution and securing market entry and revenue in the second half of this year, and we recently concluded our next round of investment. This indicates that Sakak is increasingly being recognized as a leading data company.' Starting next year, Sakak plans to secure Pre-A funding, with the long-term goal of becoming a leading data company in 10 areas: healthcare, telecommunications, energy, education, real estate, employment, leisure, distribution, welfare, and transportation. Sakak also aims for a KOSDAQ IPO through a technology special listing after being recognized as a data integration intermediary specializing in these fields.
Looking five to ten years ahead, Bae envisions, 'In five years, I hope CANDiY will enable everyone in Korea to access personalized services based on their data, regardless of their gender, age, or health status. Hyper-personalized services tailored to individual needs should no longer be a privilege for a select few but an everyday experience for all through CANDiY.' He added, 'In ten years, I hope the phrase "CANDiY it" will become synonymous with "I’m using my data to access services," and that people will live in a world where they safely use data to create new, unimaginable services and benefit from it on a daily basis.'
Bae also expressed gratitude for the government’s startup support policies, including programs like the Youth Startup Academy and Seoul Startup Hub, which helped Sakak expand its network and collaborate with other innovative companies. 'Thanks to the Youth Startup Academy, we have formed multiple MOUs with companies, which has greatly contributed to our growth,' he said. He also highlighted how government programs like SeSAC (Seoul Youth Employment Academy), which connects startups with young talent, have helped Sakak hire developers who are now growing alongside the company.