Japan-based corporate data aggregator Baseconnect has raised ¥1.8bn ($16.4m) in a series A equity and debt round led by YJ Capital, internet company Yahoo Japan’s corporate venturing unit.
The round included business intelligence provider Uzabase, industrial manufacturer Orient Corporation (Orico), IT services firm Nihon Unisys and financial services firms Kyoto Bank and Mizuho Financial Group, the latter three investing through Canal Ventures, Kyogin Lease & Capital and Mizuho Capital respectively.
Venture capital firms East Ventures and Jafco also invested in the equity portion of the round, as did Kyoshin Innovation C Fund, a joint vehicle launched by credit union Kyoto Shinkin Bank and VC firm Future Venture Capital, while Kyoto Bank, Mizuho Bank, Sumitomo Mitsui Banking Corporation and Japan Finance Corporation supplied the debt.
Founded in 2017, Baseconnect has developed a sales-oriented corporate information database called Musubu (previously known as Baseconnect List) that had attracted more than 30,000 corporate customers as of last month.
The company has also launched a new database focusing on physical office data, enabling users to collect information on prospective customers more comprehensively. It will use the series A cash to expand its database, improve the Musubu platform and boost its marketing capabilities.
YJ Capital, Canal Ventures, Kyogin Lease & Capital, Mizuho Capital, Uzabase and East Ventures had already taken part in Baseconnect’s $3.8m pre-series A round in late 2018.
The round was led by Genesia Ventures and also featured Senshu Ikeda Capital, whose parent company Senshu Ikeda Bank also provided debt financing alongside Kyoto Bank and Mizuho Bank. It came nine months after an undisclosed amount of funding from Uzabase through a partnership agreement.
Genesia Ventures had led an $880,000 seed round for the company in December 2017 featuring YJ Capital, Mizuho Capital, East Ventures, Kyoto City Startup Support Fund and angel investor Masao Itō, as well as debt from undisclosed regional banks.
Baseconnect had previously secured pre-seed funding from Code Republic, an accelerator co-run by YJ Capital and East Ventures that generally invested approximately $60,000 in exchange for a 7% stake, in February 2017.
