Lancers, a Japan-based crowdsourcing platform backed by half a dozen corporates, yesterday filed for an initial public offering on the Tokyo Stock Exchange’s Mothers Market, according to The Bridge.
The company plans to issue 2,27 million shares, with an additional 1.1 million shares allocated to an over-allotment option. Lancers will set a price range on November 17, before pricing on December 6.
Founded in 2008, Lancers operates a platform for companies to outsource tasks to outside contractors. It has served some 33,000 companies in Japan to date, though it posted a loss of $854,000 on $23.2m in revenue, according to consolidated statements as of March 2019.
Lancers most recently collected $9.2m in funding from temporary staff provider Persol and financial services firm Shinsei Bank in January 2018.
Game developer Colopl, human resources firm Intelligence and telecoms firm KDDI previously took part in an $8.5m series A round in 2014, investing together with Strive, the corporate venturing arm of mobile social network Gree then known as Gree Ventures.
Globis Capital Partners and GMO Venture Partners, respective investment subsidiaries of education services company Globis and internet services provider GMO Internet Group, also backed the series A round.
Globis and GMO had already taken part in a $2.9m seed round in 2013.
Globis Capital Partners currently owns a 15.6% stake in the business, followed by KDDI (5.9%), Persol (5.4%), GMO Venture Partners (3%), Shinsei Bank (2.3%) and Strive (1.2%). Chief executive Yosuke Akiyoshi retains a majority shareholding with 62.5%.
