Total amount raised
$102.5 Millions
Latest funding date
9/1/2017
Location
Updater has successfully raised significant funds through multiple rounds, including a Series C round and a recent Corporate Round. The platform offers a comprehensive suite of services designed to simplify the moving process for individuals and businesses.
Keep reading to explore the intricacies of Updater's fundraising journey and the investors backing this innovative platform.
What Is Updater?
Updater, founded in 2011 in New York City, aims to simplify the moving process for individuals and businesses. The company was established by David Greenberg, who experienced firsthand the complexities of moving within the city.
Updater offers a comprehensive platform that helps users manage various moving-related tasks, such as setting up utilities, booking moving services, and securing insurance. This all-in-one solution is designed to make moving less stressful and more efficient.
With a team of 101-250 employees, Updater continues to innovate and expand its services, making it a go-to resource for anyone planning a move.
How Much Funding Has Updater Raised?
- Series A
- Amount Raised: ¥180M
- Date: November 2017
- Lead Investors: Makoto Takano
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach more users.
- Venture Round
- Amount Raised: ¥50M
- Date: February 2014
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform.
- Venture Round
- Amount Raised: ¥80.6M
- Date: June 2017
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's features and improve user experience.
- Corporate Round
- Amount Raised: ¥400M
- Date: December 2018
- Lead Investors: MARUI GROUP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen partnerships and expand market presence.
- Series B
- Amount Raised: ¥1.2B
- Date: January 2019
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: ¥1.5B
- Date: October 2020
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and enhance service offerings.
- Series C
- Amount Raised: ¥1.2B
- Date: May 2021
- Lead Investors: Not disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and innovation.
- Corporate Round
- Amount Raised: Undisclosed
- Date: March 2024
- Lead Investors: KITA DENSHI, Matsukiyo Cocokara
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen sustainability initiatives and expand service offerings.
Total Amount Raised: ¥4.61B
Current Valuation: Not publicly disclosed
Key Investors
- KITA DENSHI
- Details: KITA DENSHI is a prominent investor in Updater, participating in the Corporate Round in March 2024. The company is headquartered in Tokyo and led by Representative Director Tomoya Kobayashi.
- Investment Focus Areas: Sustainability, decarbonization, well-being.
- Notable Investments: Updater.
- Matsukiyo Cocokara
- Details: Matsukiyo Cocokara is a key investor in Updater, involved in the Corporate Round in March 2024. The company is known for its extensive network of over 3,400 stores and a strong focus on sustainability.
- Investment Focus Areas: Health, sustainability, renewable energy.
- Notable Investments: Updater.
- MARUI GROUP
- Details: MARUI GROUP invested in Updater during the Corporate Round in December 2018. The group is a major player in the retail and financial services sectors in Japan.
- Investment Focus Areas: Retail, financial services, sustainability.
- Notable Investments: Not publicly disclosed.
- Makoto Takano
- Details: Makoto Takano led the Series A round for Updater in November 2017. He is a well-known investor with a focus on innovative startups.
- Investment Focus Areas: Technology, startups, innovation.
- Notable Investments: Not publicly disclosed.
- Aozora Bank Ltd.
- Details: Aozora Bank Ltd. is a significant investor in Updater, known for its comprehensive financial services. The bank has a strong presence in both retail and corporate banking sectors.
- Investment Focus Areas: Financial services, corporate banking, retail banking.
- Notable Investments: Not publicly disclosed.
What's Next for Updater?
Updater is poised to capitalize on the growing demand for sustainability and renewable energy solutions. With significant backing from Kitadenshi Holdings Group and MatsukiyoCocokara & Company, the company is well-positioned to expand its SX services and blockchain technology for energy traceability. These opportunities could significantly enhance their market presence and impact.
Future fundraising efforts are likely to focus on scaling these initiatives, attracting further investments from sustainability-focused investors. However, Updater will need to navigate the challenges of maintaining technological leadership and regulatory compliance in a competitive market. The company's ability to innovate and adapt will be crucial for its continued success.
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