Japan’s Oneteam, collaborative business communication tool for Asia, raises $3.4M

Japan’s Oneteam, collaborative business communication tool for Asia, raises $3.4M

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See the original story in Japanese.

Updated: Some part describing Profile Book has been deleted because the company says it has no longer intention to sell Profile Book individually.

Tokyo-based Oneteam, developing collaborative business communication tool under the same name and an employee profile management tool called Profile Book, announced today that it ha fundraised 380 million yen (about $3.4 million) in the latest round. Participating investors in this round are Daiwa Corporate Investment, Nissay Capital, FFG Venture Business Partners, Iwagin Jigyo Souzou Capital, and Fringe81 (TSE:6550). Detailed financial terms, such as which round this is or who leads this round, have been still unknown.

We were told that the company uses the funds to strengthen sales, system development and marketing effort with the aim to expand their business and to evolve the company’s flagship communication tool product. Prior to this, Oneteam unveiled last week that it has welcomed Daisuke Sato, former CTO at Japanese cloud-based personnel management startup SmartHR, as a new employee in addition to appointing Atsushi Nagase, CTO at Japanese crowdfunding site Campfire, who recently joined the company’s advisory board.

For the company, this funding follows their series A round raising about $1.8 million from Nissay Capital back in January of 2016 as well as their seed round raising about $480,000 from CyberAgent Ventures back in May of 2015. Coinciding with the latest funding, Oneteam claims that it has partnered with Fringe81 to work together on sales and product development around the SaaS (Software as a Service) business for both firms.

Founded back in February of 2015, Oneteam has been developing a collaborative communication tool under the same name, specifically designed aiming to improve the productivity of employees working apart. Their paying users are now about ten times than that at the time of the tool’s official release back in June of 2016. The company revealed then that it was serving over 2,500 businesses centered on the Southeast Asian market (including freemium users), aiming to acquire 100,000 users within the year of 2016.