Japan’s talent search startup BizReach gets $33M to offer hiring management platform

Japan’s talent search startup BizReach gets $33M to offer hiring management platform

SHARE
soichiro-swimmy-minami
BizReach founder and CEO Soichiro Swimmy Minami

This is the abridged version from our original article in Japanese.

BizReach, the Tokyo company providing an online talent search platform under the same name, announced today that it has fundraised about 3.73 billion yen (about $32.9 million) in the second funding round. This round was led by YJ Capital, the investment arm of Yahoo Japan, investing 1.6 billion yen ($14 million), with participation from Salesforce Ventures, Sumitomo Mitsui Trust Investment, Dentsu Digital Holdings, Gree, Rakuten, Link and Motivation, EFU Investment Limited, East Ventures, and IMJ Investment Partners.

BizReach, the Tokyo company providing an online talent search platform under the same name, announced today that it has fundraised about 3.73 billion yen (about $32.9 million) in its second funding round. This round was led by YJ Capital, the investment arm of Yahoo Japan, investing 1.6 billion yen ($14 million), with participation from Salesforce Ventures, Sumitomo Mitsui Trust Investment, Dentsu Digital Holdings, Gree, Rakuten, Link and Motivation, EFU Investment Limited plus East Ventures, in addition to IMJ Investment Partners.

The funds will be used to further develop their employment search engines and job listing services including StanBy, which was launched last year. Coinciding with this announcement, the company unveiled their plan to launch a cloud-based hiring management platform called HRMOS (pronounced ‘harmos’) in May, not to mention continuing operation of aforementioned services as well as an applicant tracking system (ATS) called StanBy Company.

BizReach was launched back in April of 2009 by Soichiro Swimmy Minami, one of the founders of the Rakuten Eagles, an expansion baseball club in the Japanese professional league. The latest round follows the company’s first funding round having raised 200 million yen from Japanese investment firm Jafco in March of 2010. Minami founded a members-only premium outlet e-commerce site Luxa as a business operating under BizReach in August 2010 but spun it out in October of 2010 because BizReach shifted its focus to the job hunting and talent search field. Since Japan’s leading telco KDDI gained a majority stake in Luxa in April of 2015, it is said that Minami has plowed much profit from the sales of the stocks into the BizReach business.

Translated by Masaru Ikeda
Edited by “Tex” Pomeroy