Funding round
Gojo Series C
Gojo, which works in microfinance services in Tokyo, raised $40M in a Series C round announced on 30 Sep 2019, led by Dai-ichi Life Insurance Co., Ltd.. 10 firms took part, 4 of them already investors. It is Gojo's second venture round on record; the one before was a Series B in Jun 2018.
$40M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
Gojo did not disclose a valuation in this round. It came 15 months after Gojo's Series B. It is 13% of the $297M Gojo has raised in the venture rounds on record. Gojo raised again 15 months later: a Series D round of $68M in Dec 2020.
Gojo's funding rounds
Gojo has 5 venture rounds on record and 4 other deals. This one is highlighted.
- Series B 29 Jun 2018 $17M
- Series C this round 30 Sep 2019, led by Dai-ichi Life Insurance Co., Ltd. $40M
- Series D 17 Dec 2020 $68M
- Debt not a venture round 22 Feb 2022 $1.7M
- Debt not a venture round 28 Jun 2022 $11M
- Series E 15 Nov 2022 $50M
- Debt not a venture round 16 Aug 2023 $55M
- Debt not a venture round 24 Oct 2024 $111M
- Series F 24 Oct 2024 $122M
Investors
Who put money in
Dai-ichi Life Insurance Co., Ltd. led the round with 9 other firms. Dai-ichi Life Insurance Co., Ltd., Dimension, Izawa Investments Co., Ltd. and SBI Investment had backed Gojo before.
Lead investor
- Dai-ichi Life Insurance Co., Ltd. existing investor
Also in the round
- backs 24 venture-backed companies existing investor
- Izawa Investments Co., Ltd. existing investor
- backs 96 venture-backed companies existing investor
- backs 12 venture-backed companies new investor
- Tokyo University of Science Investment Management Company
- Marui Group
- Seven Bank
- Japan International Cooperation Agency
- backs 47 venture-backed companies
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion and scaling operations.
- Geographic expansion
- Scaling operations
Comparable rounds
How it compares
14 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $49M, and this round was 82% of the median. The closest in time, other companies' Series C rounds in Loans & Financing:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Fundbox Loans & Financing | 24 Sep 2019 | $176M | not disclosed | Allianz X and Healthcare of Ontario Pension Plan |
| Loans & Financing | 28 Oct 2019 | $60M | not disclosed | Colchis Capital |
| Loans & Financing | 22 Oct 2019 | $48M | not disclosed | Square Peg and Airtree |
| Loans & Financing | 14 Oct 2019 | $23M | not disclosed | NH Investment & Securities |
| Loans & Financing | 5 Aug 2019 | $21M | not disclosed | British International Investment |
| Loans & Financing | 9 Oct 2019 | $10M | not disclosed | Airtree |
| Loans & Financing | 12 Aug 2019 | undisclosed | $28M | Das Capital and Gunosy Capital |
| Octane Loans & Financing | 1 Nov 2019 | $70M | $400M | Valar Ventures |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Gojo raise in its Series C round?
Gojo raised $40M in its Series C round, announced in Sep 2019.
Who led Gojo's Series C round?
Dai-ichi Life Insurance Co., Ltd. led it, with Dimension, Izawa Investments Co., Ltd., SBI Investment, 15th Rock and Tokyo University of Science Investment Management Company and 4 more.
What was Gojo's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Loans & Financing?
14 Series C rounds in Loans & Financing within a year either side disclosed an amount; the median was $49M, and this round was 82% of the median.
Did Gojo raise again after this round?
Yes: a Series D round in Dec 2020 of $68M.