Japanese venue rental marketplace Space Market secures $936,000 in funding



See the original story in Japanese.

Space Market lists unused or idle venues and allows users to pick one to rent on demand for business needs such as corporate meetings, shareholder meetings, training courses or other events. They won the top prize at Rising Expo 2014, an annual startup showcase event held by CyberAgent Ventures this August.

The company announced today that it has fundraised 100 million yen (or $936,000) from CyberAgent Ventures and Mizuho Capital. According to Space Market’s CEO Daisuke Shigematsu, they will use the funds to strengthen engineering as well as sales forces, including developing apps and acquiring more venues, in addition to providing a concierge service.

Furthermore, they plan to promote partnering with in-company training providers, event planners, ad agencies plus  catering service providers. They have listed more than 775 venues to date, including sailing vessel MiraieExcel Air Service‘s heliport, Tokyo Bay’s uninhabited island Sarushima, and old Japanese-style houses in the historic village of Shirakawa-go.

They have partnered with established companies like Sumitomo FudosanTokyu Land, and Culture Convenience Club. It will be interesting to see how they will proceed towards their vision where they want to create a new value by giving users access to any venue in the world.

An old Japanese-style house in the historic village of Shirakawa-go.