SpaceMarket, a Tokyo-based company founded in January 2014, offering unused venues for rental usage, has raised 400 million yen ($4 million) in their latest round of funding. The funding which was led by Opt Ventures with support from Recruit Strategic Partners, Mizuho Capital, SBI Investment and Orix, according to a report in The Bridge.
With over 8000 venues listed on their platform, Space Market had previously raised 100 million yen ($1 million) in 2014. The latest investment will see funds spent on improving the quality of human resources alongside system development and marketing efforts that will benefit the business in the long term.
Space Market previously raised 100 million yen (about $936,000 at the currency exchange rate then) back in October the same year. The company has listed above 8,000 venues on their platform. While strengthening human resources for system development as well as search engine optimization and other marketing efforts, they will leverage funds to solidify business development in addition to management capabilities for both mid- and long-term perspectives.