Japan-based e-commerce software developer Lockon has been approved for an initial public offering on the Tokyo Stock Exchange Mothers Market, Japanese venture capital news site Venture Now reported on Monday.
Founded in 2001, Lockon is the developer of open source e-commerce platform EC-Cube and advertising analytics platform Ad Ebis.
Lockon raised $2.1m in 2008 from CyberAgent Ventures and GMO Venture Partners, which act as the corporate venturing arms of internet companies CyberAgent and GMO respectively, Mizuho Capital, which does the same for Mizuho Bank, advertising firms Septeni, Full Speed and Hakuhodo, and venture capital firm Jafco.
CyberAgent and Mizuho both own stakes in the company sized at around 2%.
The company has not revealed how much it hopes to raise from the offering but plans to go public next month.