Tokyo-based crowdsourced translation company Gengo announced earlier this week that it has secured funding worth US$5.4 million in series C round led by Recruit Holdings (TSE:6098) with participation from SBI Investment, Mitsubishi UFJ Capital, CrowdWorks (TSE:3900, online crowdsourcing platform), Allied Architects (TSE:6081, internet service company), and Libertad K.K. (business execution consulting firm).
The company’s existing investors include Intel Capital, Iris Capital (the investment arm of Orange, a leading French telco), STC Ventures, and Singapore’s Infocomm Investments. The company plans to fund the upscaling of sales and marketing operations in existing and new markets.
According to a statement from the company, on announcing this funding result, Gengo co-founder Matthew Romaine will take over the new role of CEO to carry the company into its next phase of growth, with former CEO Robert Laing shifting his role to Special Projects.
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Edited by “Tex” Pomeroy