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Kakao’s K Cube Ventures invests W405m in Jubilee Works

K Cube Ventures, a startup investment fund owned by South Korean internet giant Kakao, announced Monday it has invested 405 million won ($356,000) in Jubilee Works, the developer of mobile scheduling app “Jubilee TimeTree.”

The Kakao unit made the investment alongside a number of other local and global investors, including Seibu Shinkin Capital, SMBC Capital Markets, Plantree Partners and Toei Animation. Together, these companies invested a total of 2.3 billion won into Jubilee Works.

Founded in September 2014, Jubilee Works operates Jubilee TimeTree, a mobile app that lets small groups, such as families, friends, couples and co-workers to coordinate their schedules via a shared calendar.

Jubilee TimeTree currently has 2.3 million registered users, more than 1 million of which are active users. It is available in 13 languages, including Korean, English and Japanese.

By Sohn Ji-young (