#Asia Sansan raises US$16.9M round, eyes boosting Singapore presence

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The company wants to reach more Singapore SMEs, which, CEO Chika Terada, says are rapidly adopting cloud-based solutions

Cloud Networking FINAL

If you are anything like me, sitting in the corner of your office desk is an overwhelming pile of business cards providing just enough usefulness to justify a permanent stress-inducing zone in a drawer.

Sansan Inc., a Tokyo-based business contact management service wants to help companies put those business cards on the cloud. Today, the company announced a S$24.2 million (US$16.8 million) Series C funding round to accelerate product innovation and international business growth.

Investors included Silicon Valley-based VC firm DCM Ventures, the strategic venture arm of Salesforce — Saleseforce Ventures — and Japanese early stage VC firm Nissay Capital.

Additionally, Sansan is allocating S$4.2 million (US$2.8 million) towards extending its reach in Singapore, which, along with the US, is the company’s top market for international expansion.

“In Singapore, we pin our hopes on tapping a large pool of SMEs that are rapidly going digital and adopting cloud-based solutions to enhance productivity, better manage costs and, most importantly, to effectively engage their customers, build loyalty and, ultimately, grow the business,” Chika Terada, Founder & CEO of Sansan, said in an official statement.

Also Read: Japanese fashion box service AirCloset snags US$8M Series B funding

The rest of the investment is to be used to strengthen mobile product offerings and open a platform to connect larger companies through other enterprise services.

While Terada’s goal for Singapore is to focus on SMEs, the company itself has a wide range of clients, with over 4,000 corporate users including Intel, Japan Post, Seven and I Holdings and Toyota.

Furthermore, it boasts the Japanese government’s Ministry of Economy, Trade and Industry as a client.

In Singapore, storage pricing is as follows: For 2,000 cards, it costs S$60 (US$41) per month; S$120 (US$83) per month gets 5,000 cards and the cost of 10,000 cards is S$220 (US$152) per month.

The service is meant to be collaborative within a company and Sansan cites the ability for employees to share information across geographies as an advantage.

Also Read: Japan/US startup Fresvii raises US$4M from Nissay Capital

Founded in 2007, Sansan Inc. is a Japanese company that, in October 2015, opened a subsidiary company in Singapore called Sansan Global PTE.

Photo Courtesy of Syda Productions/Shutterstock

The post Sansan raises US$16.9M round, eyes boosting Singapore presence appeared first on e27.

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