Japan-based management process software provider Studist received ¥1.85bn ($17.1m) on Monday from investors including property developer Mitsui Fudosan, advertising group Hakuhodo DY and enterprise software supplier Salesforce.
DNX Ventures, Nippon Venture Capital (NVCC) and Singaporean state-backed investment firm Temasek’s Pavilion Capital unit filled out the round, and the corporates took part through 31Ventures, Hakuhodo DY Ventures and Salesforce Ventures respectively.
Founded in 2010, Studist has built two business-to-business cloud software products: manual and runbook platform Teachme Biz and sales visualisation tool Hansoku Cloud. It is forming strategic partnerships with the latest investors in a bid to expand its business.
Salesforce Ventures, DNX Ventures and NVCC had backed a $7.4m round for the company in April 2019, investing with Mitsui Sumitomo Insurance Venture Capital (SMIVC) and Mitsubishi UFJ Capital, on behalf of insurer Mitsui Sumitomo Insurance and financial services firm Mitsubishi UFJ respectively.
SMIVC had joined Chibagin Capital and Yokohama Capital, respective vehicles for financial services groups Chiba Bank and Bank of Yokohama, in an $825,000 round for Studist in August 2017, two months after Mitsubishi UFJ Capital and NVCC backed a $1.1m round with staffing firm Recruit Holdings.
Salesforce Ventures had provided an undisclosed amount for Studist in May 2017, two years after Mitsubishi UFJ Capital and NVCC had injected $1.2m. The company’s earliest funding took place in 2014 when it secured approximately $420,000 from NVCC.
