The pandemic has triggered increased demand for online shopping and prompted many small retailers to create their own online offerings. Japanese commerce facilitator AnyMind, which helps influencer brands and online operations, closed a 5 billion yen (about $36 million) Series D round on the back of this boost to make acquisitions additional in Japan and around the world.
The Series D funding, which brings its total funding to date to approximately $91.7 million, consists of 4 billion yen ($29.4 million) of equity and 1 billion yen of debt. Investors include JIC Venture Growth Investment, Japan Post Investment, Nomura SPARX Investment, Proto Ventures and Mitsubishi UFJ Capital. Mizuho Bank provided the credit facility. The startup did not disclose its valuation.
AnyMind acquired ENGAWA, a Japan-based cross-border marketing company, in January last year with its C-series product. Prior to this acquisition, AnyMind had acquired six companies to acquire and expand its sales channels in different regions, including POKKT, a mobile advertising platform in India; Thailand-based multi-channel network (MCN) Moindy, which helps manage video content for influencers; Acqua Media, a mobile advertising platform in Hong Kong; and LYFT, a D2C fitness brand in Japan.
Most of the founders of the acquired companies have remained in their positions at AnyMind to support continued growth, AnyMind co-founder and CEO Kosuke Sogo told TechCrunch. Moindy’s founder has become the company’s country manager in Thailand and the POKKT co-founders are now the company’s chief operating officer and general manager in India and the Middle East, respectively, Sogo added.
Founded in 2016 in Singapore, AnyMind has expanded into Southeast Asia, East Asia, India and the Middle East through aggressive acquisitions. The startup moved its headquarters to Tokyo, Japan in 2019 to list on the Tokyo Stock Exchange, which requires its office to be based in Japan. Sogo told TechCrunch that AnyMind received approval for its IPO but dropped it in March due to market conditions which began to deteriorate.
AnyMind offers a number of services for brands and online business operators. It launched AnyChat, a conversational commerce platform, in March, and AnyX, an e-commerce management platform, in April, which helps optimize e-commerce operations through centralized management of multiple e-commerce channels. Sogo told TechCrunch that AnyX is integrated with Asian e-commerce marketplaces like Shopee, Rakuten, and Lazada and global e-commerce marketplaces like Amazon and Shopify.
Its AnyFactory manufacturing platform, connected to over 200 manufacturers across Asia, helps anyone find the best suppliers to manufacture their products. The company’s logistics management platform, AnyLogi, enables D2C and e-commerce brands to get things done.
The company currently powers more than 1,000 brands, including TikTok, Canon, and Traveloka for marketing and commerce enablement, and more than 1,110 publishers, including Pantip, Gizmodo Japan, and Anglers, for their ad monetization and D2C business. It also works with over 1,400 creators to develop their own D2C brands.
“Many of our clients choose us because they can leverage Asia as a whole – whether it’s influencers across the region, logistics networks, manufacturers, expertise for market expansion and more,” Sogo told TechCrunch.
The company claims to have recorded revenue of $174 million. AnyMind operates 17 offices in 13 markets with over 1,000 employees.
“Despite COVID-19 and geopolitical situations impacting the world, we have always been able to achieve solid growth as a business,” Sogo said. “On the other hand, we are seeing economies across Asia, including our operating markets of ASEAN and India, rapidly regaining momentum of growth.”