Japan-based product-management algorithm developer Visits Technologies has raised ¥2.2bn ($20.4m) from investors including marketing firm Dentsu, insurance provider Dai-ichi Life and human resources provider Persol Holdings.
The corporates were joined by investment firm Signifiant; Globe Advisors, a subsidiary of non-profit organisation Globe Group; and Mirai Creation Fund II, an investment vehicle formed by asset manager Sparx Group and backed by carmaker Toyota and diversified conglomerate Sumitomo; as well as unnamed individual backers.
Founded in 2014 as Visits Works, Visits Technologies has built Consensus Intelligence (CI) technology intended to enhance product planning, development and management processes. Its innovation systems analysis engine, Visiongram, provides metrics in a bid to measure innovative ideas.
The round boosted Visits’ overall funding to ¥3.6bn, the company said. It will use the cash to amplify research and development initiatives surrounding CI technology, and to boost InnovationTech Consortium, the open innovation forum it set up in April 2019.
About 60 Japan-based companies participate in the consortium to foster innovation technologies with scientific approaches.
Visits received $4.5m in July 2018 from investors including Mizuho Capital and FFG Venture Business Partners, subsidiaries of financial services firms Mizuho Financial Group and Bank of Fukuoka respectively, as well as Mirai Creation Fund II, CAC Capital and various individual investors.
Persol, public relations firm Vector and Mitsubishi UFJ Capital, the VC arm of financial services firm Mitsubishi UFJ Financial Group, had participated in a $5m round also featuring Globe Advisors the year before.
The company’s earliest funding involved it securing $2.2m from human resources provider Will Group’s Incubate Fund, Sapix Yozemi Group, the owner of extracurricular preparatory school Yozemi, and multiple angel investors in 2016.
