Plaid Inc., the Japanese startup that provides real-time web analytics services to e-commerce sites, announced that it has recently raised a total of ¥2.7 billion ($25 million) additional funds from existing shareholders and through bank loans.
Backers in the latest funding round include existing shareholders Femto Partners, Eight Roads Ventures Japan, new investors Mitsui & Co, Mitsui Sumitomo Insurance Venture Capital Co, SMBC Venture Capital Co, Mizuho Capital Co, and Mitsubishi UFJ, according to a company statement.
The company also secured loans from banks in Japan, including Mizuho Bank and Sumitomo Mitsui Banking Corporation.
The latest fund is on top of the ¥650 million ($6 million) that Plaid raised earlier from Femto Partners LLP and Fidelity Growth Partners Japan, which means it has already raised a total of ¥3.4 billion ($31 million) since the release of Karte, its customer experience (CX) platform for digital marketers, in July 2014.
Officially launched in March 2015, Karte, Plaid’s proprietary CX platform, has analysed an accumulated total of 2.2 billion users and up to ¥548 billion ($5.1 billion) in annual sales for e-commerce clients.
According to the startup, led by CEO Kenta Kurahashi, Karte provides an analysis and a real-time visualization of website visitors’ behavioural data on a per-person level.
Plaid said it will use the fresh funds for marketing, to hire more people, and to construct a scalable development framework to handle increasing data.
“We have already started Karte implementation to some overseas companies, including those in North America, Taiwan, and Singapore, and will accelerate our movements towards full-scale entry into the overseas market as well as our investments to R&D projects,” the company said.