BellFace, the Japan-based developer of a business communication and management system, has raised ¥5.2bn ($47.3m) in equity and debt financing from investors including corporates Globis, Nihon Unisys and Yahoo Japan.
The round was led by The Fund, a joint venture for investment firm Signifiant and banking firm Mizuho Financial Group. It included Mizuho subsidiary Mizuho Capital and SMBC Venture Capital, on behalf of financial services firm Sumitomo Mitsui Banking Corporation, in addition to Incubate Fund.
Education services provider Globis, IT services firm Nihon Unisys and internet company Yahoo Japan invested through respective corporate venturing units Globis Capital Partners, Canal Ventures and YJ Capital. Banks including Mizuho Bank, Resona Bank and Shoko Chukin Bank provided debt for the round.
BellFace was founded in 2015 and has created an online conferencing tool that helps users arrange remote sales meetings on devices such as computers, smartphones and tablets without the need to install apps or log in.
The funding will be used for advertising and business development, and the company said half the cash will be set aside for recruitment efforts as it looks to hire about 300 people in the next fiscal year.
Canal Ventures, Globis Capital Partners, SMBC Venture Capital and YJ Capital had already invested in BellFace as part of a $4.5m round in August 2018, following $1.6m in funding from backers including Incubate Fund two years before, according to TechCrunch and The Bridge.
