Crowdworks, a Japan-based crowdsourcing marketplace backed by several corporates, has filed for an initial public offering on the Tokyo Stock Exchange’s Mother’s Market, Tech in Asia reported on Friday.
Founded in 2011, Crowdworks operates a platform through which users can offer or source services, many of which are related to small business requirements.
The company plans to issue 1.65 million shares priced at ¥629.00 ($5.43) each, which would give Crowdworks proceeds of approximately $9m. The IPO is scheduled for December 12.
Crowdworks raised $10.7m from a December 2013 series B round backed by internet company CyberAgent, DG Incubation, which acts as the incubator subsidiary of diversified internet company Digital Garage, and Dentsu Digital Fund, the corporate venturing unit of marketing firm Dentsu.
The company previously secured $3.75m in series A funding in 2012 from Itochu Technology Ventures, the corporate venturing arm of trading conglomerate Itochu, Digital Garage, and Suneight Investment.
CyberAgent also provided seed funding for Crowdworks in 2011.