The commerce enablement company has acquired seven companies in several countries, including India, Japan, Hong Kong and Thailand
Tokyo-based AnyMind Group, a commerce enablement company, has raised $29.4 million in a Series D funding round, with its total funding approximating $91.7 million. It raised funds from new investors, including JIC Venture Growth Investments, Japan Post Investment Corporation, Nomura SPARX Investment, and PROTO Ventures Inc, along with existing investor, Mitsubishi UFJ Capital.
The company has also secured a ¥1 billion credit facility from Mizuho Bank for future use. AnyMind Group’s Series C stock was issued for the acquisition of cross-border marketing company ENGAWA in January 2021.
Talking about the Series D funding round, Kosuke Sogo, CEO and Co-founder of AnyMind Group, said, “Despite COVID-19 and geopolitical situations impacting the world, we were able to achieve solid growth as a business. We also see economies across Asia, including our operating markets of ASEAN and India, rapidly regaining growth momentum.”
Augmenting Existing Processes
In March 2022, AnyMind launched AnyChat, a conversational commerce platform. In April, it launched an e-commerce management platform, AnyX, which optimises e-commerce operations through central management of multiple e-commerce channels.
Funds from the Series 4 round will be utilised to enhance existing platforms and strengthen market share across the company’s operating regions. It will also be used to strengthen the company’s advancement in the commerce enablement space and to fund future acquisitions.
Additionally, the funds will be required for future acquisitions in Japan and internationally. To date, AnyMind Group has acquired seven companies from various parts of the region, including India, Japan, Hong Kong and Thailand. The reasons to make these acquisitions were either to acqui-hire a company’s leadership, expand into new businesses or regions, acquire additional sales channels, or all three.
In 2021, AnyMind Group saw revenues of $174 million with a 62 per cent compound annual growth rate (2017-2021). Founded in Singapore in 2016, the company expanded into Southeast Asia, East Asia, India and the Middle East. In 2019, it shifted its headquarters to Tokyo and had operations out of 17 offices across 13 markets, with over 1,000 staff from 27 nationalities.
Before the launch of AnyChat, the company had developed and launched the manufacturing platform, AnyFactory and the logistics management platform, AnyLogi. It started in the marketing technology industry with platforms for advertising and influencer marketing, and after that, it expanded into the publisher and creator technology space.