Morphlabs, a US-based company offering software as a service backed by an Asian strategic investor, has raised $5.5m in its series B round and appointed Satoshi Konno as president of its Japanese operations.
Global Gateway Investment Group led the round, and was joined by new consortium member Frontera Group and return backers CSK Venture Capital, the technology and healthcare corporate venturing division of Japan-based CSK Group, and AO Capital Partners.
CSK and AO Capital Partners, part of Hong Kong-based merchant bank American Orient Capital Partners Group, had previously invested $750,000 each in 2008 in what was deemed a pre-flotation funding round expected later that year in Manila.
In 2008, Satoshi Konno, general manager of CSK Venture Capital and now also the president of Morphlabs Japan, said, "We invested in Morphlabs based on the strategic role it plays in the future of the IT industry and in shaping how businesses approach, develop, and work with technology. Morphlabs offers a VC-calibre financial investment and a strategic business synergy opportunity for CSK Group."
Morphlabs was founded and is led by executive chairman Winston Damarillo, who previously worked for chip maker Intel’s corporate venturing unit, Intel Capital. Damarillo is also managing partner of Global Gateway’s venture capital division and chairman of Global Gateway Innovation Exchange (G2iX), a platform that enables development of IT startups. He is also the serial entrepreneur behind three successful exits and two other businesses beyond Morphlabs.