Japan-based online skills marketplace Coconala has raised ¥540m ($4.4m) in its second round of funding, which included financial services firm Sumitomo Mitsui Financial Group and insurer Nippon Life Insurance, The Bridge reported on Sunday.
Sumitomo Mitsui and Nippon Life, which took part through their SMBC Venture Capital and Nissay Capital units, were joined by Voyage Ventures, the corporate venturing arm of internet company Voyage Group, and investment firm Jafco.
Launched in 2012 as WeSelf, Coconala is an online platform where users can trade their skills, knowledge and experience. It plans to use the funding to expand its consultation services and to build an advertising monetisation system.
Crowdsourcing is not a new business in Japan, where companies like Crowdworks and Lancers are connecting firms looking to outsource tasks, but Coconala offers a range of services, such as personal advice and counselling, which are not limited to the workplace.
Coconala is looking to go public in 2018, CEO Akiyuki Minami told The Bridge. The company raised $1.5m in a 2013 round led by Nissay Capital and backed by marketing companies Opt and Adways, and Tetsuro Yoshimatsu, CEO of Japanese cosmetic site iStyle.