Total amount raised
$410.3 Millions
Latest funding date
09/01/2021
Location
SmartNews has successfully raised funds through multiple rounds, with its latest being a Series F round on September 15, 2021. The platform is a news aggregation app that curates high-quality news from over 14,000 trusted publishers.
With 21 investors backing the company, SmartNews continues to innovate in delivering balanced news coverage and local updates. Keep reading to explore the intricacies of SmartNews' fundraising journey and the investors supporting this dynamic platform.
What Is SmartNews?
SmartNews, founded on June 15, 2012, is a news aggregation app headquartered in Tokyo, Japan. The company was established by Kaisei Hamamoto and Ken Suzuki.
Operating in industries such as apps, artificial intelligence, journalism, media and entertainment, mobile, and news, SmartNews employs between 501 and 1000 people. The app leverages machine learning to deliver high-quality news, aiming to provide users with a balanced view of current events.
With over 50 million downloads and 2 million 5-star ratings, SmartNews has become a popular choice for users seeking curated news from trusted publishers. The company has offices in Tokyo, San Francisco, and New York, and continues to innovate in the news aggregation space.
How Much Funding Has SmartNews Raised?
- Series A
- Amount Raised: ¥420M
- Date: August 14, 2013
- Lead Investors: Globis Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong foundation and accelerate initial growth.
- Series B
- Amount Raised: $36M
- Date: August 7, 2014
- Lead Investors: Atomico, Gree
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the user base and enhance the app's features.
- Series C
- Amount Raised: $10M
- Date: March 30, 2015
- Lead Investors: Gree
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the app's technology and expand market reach.
- Series D
- Amount Raised: $38M
- Date: July 7, 2016
- Lead Investors: Development Bank of Japan
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series E
- Amount Raised: $92M
- Date: November 18, 2019
- Lead Investors: Asian Capital Alliance, Japan Post Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support international expansion and product innovation.
- Series F
- Amount Raised: $230M
- Date: September 15, 2021
- Lead Investors: JIC Venture Growth Investments, Princeville Capital, Woodline Partners
- Valuation at Round: $2 billion
- Motivation Behind the Round: To accelerate growth and innovation, particularly in the U.S. market.
Total Amount Raised: Over $400 million. Current Valuation: $2 billion.
Key Investors
- Princeville Capital
- Details: Princeville Capital is a U.S.-based investment firm known for its focus on growth-stage technology companies. The firm aims to support companies that have the potential to become market leaders.
- Investment Focus Areas: Technology, growth-stage companies, market leaders.
- Notable Investments: Not specified.
- Woodline Partners
- Details: Woodline Partners is another U.S.-based investment firm that specializes in providing capital to innovative companies. The firm is known for its strategic investments in high-growth sectors.
- Investment Focus Areas: Innovation, high-growth sectors, strategic investments.
- Notable Investments: Not specified.
- JIC Venture Growth Investments
- Details: JIC Venture Growth Investments is a Japanese investment firm that focuses on supporting the growth of promising companies. The firm is part of the Japan Investment Corporation.
- Investment Focus Areas: Growth companies, Japanese market, venture investments.
- Notable Investments: Not specified.
- Green Co-Invest Investment
- Details: Green Co-Invest Investment is a Japanese investment firm that provides capital to companies with strong growth potential. The firm is known for its collaborative investment approach.
- Investment Focus Areas: Growth potential, collaborative investments, Japanese market.
- Notable Investments: Not specified.
- Yamauchi-No.10 Family Office
- Details: Yamauchi-No.10 Family Office is a Japanese family office that manages the wealth and investments of the Yamauchi family. The office focuses on long-term investments in various sectors.
- Investment Focus Areas: Long-term investments, wealth management, diverse sectors.
- Notable Investments: Not specified.
What's Next for SmartNews?
SmartNews is poised to capitalize on significant opportunities, particularly in the U.S. market. With $230 million raised in its Series F funding round, the company plans to double its headcount and invest in new product features focused on consumer health and safety. This expansion is bolstered by the growing demand for personalized news aggregation services and the increasing importance of quality journalism.
Future fundraising opportunities appear promising, with potential for additional venture capital rounds or even an initial public offering (IPO). The substantial financial resources and investor confidence suggest that SmartNews is well-positioned to attract further investment as it continues to innovate and expand its market presence.
However, the company faces challenges such as competition from other news aggregation platforms and navigating regulatory environments in different countries. Ensuring the accuracy and reliability of aggregated news content will also be crucial as SmartNews scales its operations and enhances its technology to meet user expectations.
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