SMBC Venture Capital, a venture capital unit of Sumitomo Mitsui Banking Corporation, has participated in a Y100m ($1.1m) series B round for TeamSpirit, a local company which develops and provides a cloud-based human resource management.
There was also involvement in the B round from venture capital firms Nissay Capital and Nippon Venture Capital.
The funding follows a series A round in 2011 from by US-based software provider Salesforce.com and Force.com.