Japanese cloud-based business card management services Sansan Inc has raised $38 million in its series D round which saw participation from new investor Future Creation Fund of the Sparx Group, which is backed by Toyota Motor Corp, and Sumitomo Mitsui Banking Corp (SMBC)
“This new round of funding will support Sansan Inc’s aggressive growth into new cities in Asia, including India, and extend its market dominance through its business card management services for professionals and corporates,” Sansan said, in its statement.
Founded in 2007, Sansan has focused on delivering its cloud-based contact management service to customers in Japan and overseas. It is currently based in Tokyo and has its subsidiary Sansan Global Pte Ltd in Singapore since October 2015.
The latest funding is the largest amount raised by the company till date. This brings the total funding to $76 million of which around 40 per cent has come from investors outside of Japan.
The company is also looking to accelerate its business card management service for corporate users and organisations, and launching the English version of its Social Network Service or SNS to help professionals digitalise and manage their business cards data.
Sansan said, its business card management service users include the Japanese Government (METI), Intel, Japan Post, Mizuho Bank, SAP, Seven & i Holdings, Sumitomo Mitsui Banking Corporation, Tokyo Gas, and Toyota.
The company expanded into Singapore in October 2015 and currently works with Singapore-based clients such as Ngee Ann Polytechnic.