Japanese News App SmartNews Raises $10M at a Pre-Money Valuation of $320M

Image Source: Smartnews

Image Source: Smartnews

Japanese news app, SmartNews has raised $10 million in Series C round at a pre-money valuation of $320 million from previous investors Gree, Globis Capital Partners, Atomico, Mixi, and Social Venture Partners. Including this round, the firm had received a total capital of $40.2 million in 4 rounds from 8 investors, till now.

The app launched in 150 countries last month has bagged 10 million downloads and its growth is led by United States, followed by India, Canada, the United Kingdom, and China. The app analyzes 10+ million articles a day to deliver the trending stories from the sources including NBC News, TechCrunch, The Huffington Post, Bleacher Report, Quartz, The Verge, Vox.com, Reuters, AP, Perez Hilton and more.

SmartNews uses users’ current location to provide accurate weather forecasting, articles specific to their area, and enhance social media options. The team size is 40 people, a number that is expected to be double or triple this year.