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.

nMore funding details:nnnNew investors: Princeville Capital, Woodline Partners, JIC Venture Growth Investments, Green Co-Invest Investment, and YamauchinnReturning investors: ACA Investments and SMBC Venture CapitalnnStage: Series FnnMore company updates:nnSmartNews 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.nIn 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.nThe 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.nThe 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.nnnnnn

For more coverage of the company, head here. You can also click on the link below to view key details about the company, as well as its funding history.

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