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Vertex leads Japan-based Micowork's Series B worth $24.5M

January 03, 2024

Micoworks, a trailblazing marketing firm focused on transforming the way businesses interact with their customers, has successfully bagged JPY 3.5B (equivalent to ~US$24.5M) in a Series B funding round.

  • Main Investor: The funding round saw Vertex Growth, a growth-stage VC fund based on Vertex Holdings (a Temasek subsidiary) taking the lead.

  • Co-investors: The round had participation from multiple investors including JAFCO Group, Mitsubishi UFJ Capital, SMBC Venture Capital, and Mizuho Capital.

  • Existing Investors: Existing investors, ALL STAR SAAS FUND and Eight Roads Ventures Japan, also made significant contributions.

  • Future Plans: Micoworks plans to channel these funds towards product enhancement and organizational strengthening. It is also eyeing expansion into the Asian market.

  • Regional Expansion: The company is setting up development teams in the Philippines and Taiwan and extending its reach to other Asian countries with a significant LINE business platform presence.

  • Product Offering: Micoworks, under the leadership of CEO Osamu Yamada and headquartered in Kita-ku, offers two major products, MicoCloud and Micomii.

    • MicoCloud: This is a marketing platform that revolutionizes communication between businesses and their customers. It provides extended functionality for the official LINE account and collects data across multiple channels, enabling communication tailored to customer needs.

    • Micomii: Specifically designed for restaurants, this LINE mini-application service assists in attracting repeat customers and cultivating a loyal customer base. It features membership card issuance through customer’s smartphones and automation of thank-you notes, aiding in attracting customers while keeping operating costs minimal.

Micoworks confirms that these platforms widen business opportunities and enhance brand value by facilitating optimal communication. As of December 2023, over 1,000 brands inclusive of consumer-facing companies such as Tokio Marine & Nichido Fire Insurance, Pasona, and JR Tokai Tours, have already adopted MicoCloud.