Japan's Monstar Lab gets $2.4m round
Monstar Lab, a Japan-based company specializing in global outsourcing services for IT companies, has raised JPY250 million ($2.4 million) from investors including Resona Capital.
Gogin Capital, an investment arm of locally based San-in Gogo Bank, also participated in the round, according to The Bridge. The company said in a statement the capital would be applied to an expansion of its overseas footprint in part through marketing initiatives and acquisition aimed at the development of new bases.
Monstar's flagship product, Sekai Lab, is a platform that allows software development companies to source team members from an international talent pool. Sekai Lab operates as a Monstar subsidiary with offices in Singapore, China, Vietnam, Bangledesh and the US. It has more than 100 partner companies in 15 countries.
The company received a JPY400 million investment last year from Japanese venture firm Digital Garage and recruitment company Pasona. Previous investors also include East Ventures, Mitsubishi UFJ Capital and SMBC Venture Capital, which teamed up for a JPY120 million commitment to the company in 2014.
Other Japanese crowdsourcing-based businesses to attract VC investment include Sansan, which raised $17 million in a round led by DCM, and Lancers, which received JPY1 billion from a group led by GMO Venture Partners, Gree Ventures, Globis Capital Partners. Gree and Globis also committed JPY300million to Tokyo-based crowdsourced editing platform provider Viibar.
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