{"id":120514,"date":"2024-01-03T16:38:18","date_gmt":"2024-01-03T09:38:18","guid":{"rendered":"http:\/\/www.thestorythailand.com\/?p=120514"},"modified":"2024-01-03T16:38:24","modified_gmt":"2024-01-03T09:38:24","slug":"micoworks-inc-raised-jpy-3-5-billion-in-series-b-round-to-accelerate-global-business-expansion","status":"publish","type":"post","link":"https:\/\/www.thestorythailand.com\/en\/micoworks-inc-raised-jpy-3-5-billion-in-series-b-round-to-accelerate-global-business-expansion\/","title":{"rendered":"Micoworks Inc., raised JPY 3.5 Billion in Series B round to accelerate global business expansion"},"content":{"rendered":"\n

Micoworks Inc.<\/a> (pronounced ‘Miko Works’), a developer and provider of the MicoCloud<\/a> and Micomii marketing platforms, which optimize communication between companies and their customers, has announced the successful raising of JPY 3.5 billion (approximately USD 24.5 million) in a Series B funding round. Headquartered in Kita-ku, Osaka City, Micoworks is led by CEO Osamu Yamada.<\/p>\n\n\n\n

The latest funding round was led by Vertex Growth, a growth-stage venture capital fund  anchored by Vertex Holdings, a subsidiary of the global investment company Temasek.  Participating investors in this round included JAFCO Group Co., Ltd., Mitsubishi UFJ Capital,  SMBC Venture Capital, and Mizuho Capital. Existing investors, such as ALL STAR SAAS FUND  and Eight Roads Ventures Japan, also contributed. To date, the company has raised  approximately JPY 6.3 billion, with this round bringing in approximately JPY 2.8 billion. <\/p>\n\n\n\n

Micoworks will utilize the newly acquired funds to enhance their product features and\u00a0 strengthen their organizational capabilities, with plans to expand into the Asian region. The\u00a0company is currently setting up development teams in Philippines and Taiwan, recognizing\u00a0 Asia as a key market due to the rapid rise of Conversational Commerce in the region.\u00a0Micoworks aims to broaden its reach to Taiwan, Thailand, and other Asian countries where\u00a0the LINE business platform has a significant presence. Beyond the LINE ecosystem, the\u00a0 company intends to integrate MicoCloud with various popular communication channels in Asia.\u00a0<\/p>\n\n\n\n

Osamu Yamada<\/strong>, CEO of Micoworks Inc., expressed his gratitude for the overwhelming investor\u00a0 support. He stated, ‘We are thrilled to announce the successful closure of our Series B funding,\u00a0 securing approximately JPY 3.5 Billion. The faith our investors, including the leading venture\u00a0 capital firm Vertex Growth, have in our company’s potential and vision is immensely gratifying.\u00a0 Our goal is to become Asia’s No.1 Brand Empowerment Company by 2030, and to achieve\u00a0 this, we will expedite our product development and bolster our organizational structure for\u00a0 global expansion.’\u00a0<\/p>\n\n\n\n

Tam Hock Chuan<\/strong>, General Partner at Vertex Growth, shared his optimism, remarking, ‘We are\u00a0 delighted to lead Micoworks’ Series B funding round, alongside other leading investors in\u00a0 Japan. The highly scalable platform of Micoworks, which leveraged on the popular and widely used LINE messaging platform, facilitates personalized customer communications from\u00a0 acquisition to engagement. The exceptional leadership of founder and CEO Yamada, along\u00a0 with his top-tier management team, is the other key reason that attracted us to this\u00a0 investment. We are keen to help support Micoworks’ continued global growth.’\u00a0<\/p>\n\n\n\n

Mizuki Takahara<\/strong>, Partner at JAFCO Group Co., Ltd., recalled his initial meeting with Mr.\u00a0 Yamada about four years ago, stating, ‘When I first met Mr. Yamada, the company had less\u00a0 than 30 employees and had not launched MicoCloud. His ambitious vision to build Asia’s\u00a0 leading company was highly compelling. Their proven strength and exponential growth, with\u00a0 an organization of over 100 talented individuals, convinced me to invest. We will actively\u00a0 support Yamada-san and Micoworks vision as one of their investors.\u2019\u00a0\u00a0<\/p>\n\n\n\n

Hiro Maeda<\/strong>, Managing Partner at ALL STAR SAAS FUND, highlighted their ongoing\u00a0 commitment, saying, ‘Since our Series A investment in 2022, Micoworks has demonstrated\u00a0 remarkable business growth and product development. With the evolving team and\u00a0 management, and the support of new investors in this round, Micoworks is well-positioned to\u00a0 become the top company in Southeast Asia.’\u00a0<\/p>\n\n\n\n

Junichi Murata<\/strong>, Partner at Eight Roads Ventures Japan, commended Micoworks’ progress,\u00a0 stating, ‘Since our initial investment, Micoworks has impressively evolved beyond a basic LINE chat tool SaaS to become the fastest-growing enterprise suite, offering a data-driven and one to-one communication platform. We are proud to continue our support as existing investors,\u00a0 given our confidence in their management team and their robust growth trajectory. It’s not\u00a0 just the quantitative metrics that impress us; the qualitative aspects, such as their strong\u00a0 brand presence and low customer churn, truly exemplify their market impact and potential.’\u00a0<\/p>\n\n\n\n

Since February 2019, Micoworks has been providing the LINE-based marketing platform\u00a0MicoCloud and the LINE Mini App service Micomii for restaurants. As of December 2023, over\u00a0 1,000 brands, including consumer-facing companies like Tokio Marine & Nichido Fire\u00a0 Insurance, Pasona, and JR Tokai Tours, have utilized MicoCloud.<\/p>\n\n\n\n

In recent years, the company has seen rapid expansion, spurred by post-COVID measures  and the increased significance of online communication following the COVID-19 pandemic.  The expansion of the ‘MicoCloud’ business and the enhancement of the development system  have maintained a high monthly retention rate of over 99%, while significantly increasing the  number of installations and end-users. <\/p>\n\n\n\n

Additionally, the new funding will fuel Micoworks’ strategic growth initiatives. These efforts  aim to further enrich the ‘MicoCloud’ marketing platform and amplify its value proposition. By  focusing on integrating cutting-edge generative AI\/ML technology, the company plans to  bolster its development efforts. This includes making ‘MicoCloud’ multi-channel and  implementing a high-security infrastructure. These enhancements are designed to expand the  platform’s capabilities, empowering customers and advancing the company’s global  aspirations, especially in the Asian market. <\/p>\n\n\n\n

In conjunction with this new funding, Micoworks is actively seeking talented individuals for\u00a0 various roles, aligning with their goal to become Asia’s No.1 Brand Empowerment Company. For more information about the available positions, please refer to the appendix.<\/p>\n\n\n\n

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Michelin has officially unveiled The MICHELIN Guide Thailand 2024 edition<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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