Japan-based talent acquisition service provider Neo Career has received ¥4.5bn ($41.4m) in equity and debt financing from investors including recruitment firm Mynavi and consulting firm Link and Motivation.
The round also featured Mitsubishi UFJ Capital, Mizuho Capital and SBI Investment: venture capital subsidiaries of financial services providers Mitsubishi UFJ Financial Group, Mizuho Financial Group and SBI.
Golden Asia Fund Ventures, a joint vehicle between Mitsubishi UFJ Financial Group and the Taiwan state-owned Industrial Technology Investment Corporation, filled out the equity portion of the round.
Neo Career began life in 2000 as a temporary staff provider targeting recent university graduates and mid-career professionals. It then expanded its business to cover the development of human resources technology including online advertising, joint business development and specialised engineer recruitment services.
The company’s services encompass healthcare professionals such as childcare workers and caregivers, in a bid to address Japan’s declining birth rate and ageing population. It also owns a Southeast Asia-focused business process outsourcing subsidiary, Reeracoen, and Abroaders Career, which helps Japanese nationals seeking employment in other Asian countries.
The company will use the fresh funding to further develop its technology and strengthen its human resources and recruitment support services.
Link and Motivation, Mynavi and Mizuho Capital had already backed a $6.8m round for Neo Career in 2014 that included Globis Capital Partners and SMBC Venture Capital, on behalf of education services provider Globis and financial services firm Sumitomo Mitsui Banking Corporation.
The company itself has undertaken some corporate venturing, investing in dietary advice service provider Finc in December 2015 and digital marketing platform From Scratch six months earlier.
