CyberAgent Ventures backs Japan language learning site
CyberAgent Ventures, the corporate VC arm of the company behind Japanese blogging site Ameba, has invested an undisclosed amount in language learning platform Lang-8.
Set up in 2006, Lang-8 offers a site where users can make blog posts in a language they are learning and have their entries corrected by other users who are native speakers.
So far the Tokyo-based company claims to have over 730,000 users from 219 countries with 70% coming from outside Japan. The new funds will be used to develop a new service and accompanying smartphone application as well as add three more engineers to its current three-person team.
According to a release, the investment has come via CA Startups Internet Fund 1, a JPY2.5 billion ($25 million) vehicle which launched in 2011. Other portfolio investments from this fund include insurance comparison site Toyro, recruitment consulting firm Leading Mark and smartphone app developer Tokyo Storm.
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