Japanese news discovery platform bags $230m in series F round

SmartNews, a Japanese news discovery startup, has secured US$230 million at a valuation of US$2 billion in a series F round.

More funding details:

• New investors: Princeville Capital, Woodline Partners, JIC Venture Growth Investments, Green Co-Invest Investment, and Yamauchi
• Returning investors: ACA Investments and SMBC Venture Capital
• Stage: Series F

More company updates:

• SmartNews has raised more than US$400 million to date. In November 2019, the startup bagged US$92 million in series E money in a round that valued the firm at US$1.2 billion.
• In the US market, the company clocked the highest monthly user time spent among all news apps while its monthly active users doubled in 2020, SmartNews said, citing data from App Annie.
• The Japanese firm plans to use the new capital to double its headcount in the US by hiring for engineering and leadership roles across Silicon Valley, New York, and San Francisco.
• The company will also invest in further expanding its product offering in the US. SmartNews said it is slated to release features in the coming months that focus on consumer health and safety.