Japan Post Capital leads $26.4m funding in SG’s AnyMind Group

The Japan Post logo is displayed in an advertisement. Photo: Reuters

Singapore-based marketing, advertising, and HR solutions provider AnyMind Group announced on Thursday that it has secured $26.4 million additional capital in a round led by Japan Post Capital, the corporate venture arm of mail services and logistics conglomerate Japan Post.

Its existing investors including Japan’s Mirai Creation Fund II also participated in the funding round. The company said the recent investment is not part of its Series B or Series C round.

AnyMind Group, which was previously known as AdAsia Holdings, was formed in January 2018 and now has three business units: AdAsia Holdings (advertising), TalentMind (human resource) and CastingAsia (influencer marketing).

Last year in March, the firm raised $8 million in a Series B+ round, bringing its total Series B capital to $21.4 million. Investors in its Series B round included Thai offline-to-online solutions provider VGI Global Media and Japan’s Tokyo Century Corporation.

The firm’s other backers include LINE, Mirai Creation Fund, and JAFCO Asia.

With the current funding, the startup’s total capital raised stands at $62.3 million to date.

The firm will use the funding to develop a direct-to-consumer offering, expand its operations in new markets such as India and the Middle East, and expand the company’s digital-out-of-home advertising service – which is currently only available in Thailand – to Japan and the rest of Asia.

“AnyMind Group continues to grow around our three business lines, and this new capital is justification for what we’ve achieved so far and the direction we’re going in. Ultimately, our philosophy of “Growth for Everyone” aligns us towards providing value for all sides of the ecosystems that we’re in,” AnyMind Group CEO and co-founder Kosuke Sogo said in a statement.

Besides the additional funding, the firm also announced a strategic partnership with Japan-headquartered fitness apparel brand LYFT wherein it will begin to offer direct-to-consumers service for social media influencers and content creators to produce and sell their own branded merchandise.

Over the past few years, the firm has been active in acquiring companies and venturing into other business units. Last year, the startup created a JV called ANY UP with Japanese communication firm SUNNY SIDE UP.

The startup also acquired influencer networks Moindy in Thailand and GROVE in Japan and launched the CastingAsia Creators Network and AnyStyle.

In Indonesia, the firm claims to have around 8,000 influencers on its platform, with 130 content creators who are under AnyMind Group, CastingAsia Creators Network. Online travel platform Traveloka and telco firm Smartfren are two of the largest clients for AnyMind Group Indonesia.

AnyMind Group is now present in 11 markets and has 13 offices in Asia.

Japan Post Capital typically makes investments in its home country. The CVC previously invested in Japan’s mobile real estate search app Housmart and portable battery saving charger distributor Inforich.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.