Cloud-based business card management services Sansan Inc has raised US$38 million in series D funding, which will support its aggressive growth into new cities in Asia including India.
In a statement, the Japanese company said, the funding will also enable it to extend its market dominance through its business card management services for professionals and corporates.
It said the funding includes investment global venture capitalist firm DCM Ventures and cloud-based customer relationship management platform Salesforce.com, with participation from new investor Future Creation Fund, which is backed by Toyota Motor Corp and Sumitomo Mitsui Banking Corp.
The series D funding of US$38 million is the largest amount raised in the company’s history. This brings the total to US$76 million of which about 40% has come from investors outside of Japan.
Sansan will introduce and market the English version of “Eight” to Asia in September 2017. Eight is a business social network service (SNS) to help professionals digitalise and manage their business cards data.
In addition, Sansan plans to leverage the funds to accelerate its business card management service known as Sansan for corporate users and organisations.
The business card management and sharing contact information service, has a wide and impressive portfolio of national and international corporate users including the Japanese Government, Intel, Japan Post, Mizuho Bank, SAP, Seven & I Holdings, Sumitomo Mitsui Banking Corp, Tokyo Gas and Toyota.
Sansan expanded into Singapore in October 2015 and currently works with Singapore-based clients such as Ngee Ann Polytechnic. – Bloomberg