Globis Capital Partners

{{Infobox company

| name = Globis Capital Partners Co., Ltd.

| native_name = グロービス・キャピタル・パートナーズ株式会社

| native_name_lang = ja

| romanized_name = Gurōbisu Kyapitaru Paatonaazu kabushiki gaisha

| logo = Globis Capital Partners logo.svg

| image =

| image_size =

| image_caption =

| type = private

| traded_as =

| industry = Private equity
Venture capital

| founders = Yoshito Hori

| founded = commenced operations {{Start date and age|1996}}; incorporated {{Start date and age|July 2006}}

| location = Tokyo, Japan

| key_people = Yoshito Hori (Founding Partner)
Soichi Kariyazono (Co-Founding Partner){{Cite web|url=https://coralcap.co/2021/01/interview-with-soichi-kariyazono/ |title=hanzuon gata VC no kusawake, gurōbisu kariyazono shi ni kiku -M&A yunikōn sōshutsu de ekoshisutemu no saranaru hatten wo |script-title=ja: ハンズオン型VCの草分け、グロービス仮屋薗氏に聞く―、M&Aユニコーン創出でエコシステムのさらなる発展を

|trans-title=Interview with Globis’ Kariyasono, Pioneer of Hands-on VC - Advancing the Ecosystem to Create Unicorns Through M&A |last=Nishimura |first=Ken |date=January 27, 2021 |website=Coral Capital, Inc. |access-date=January 6, 2025|language=ja}}

| products = Investment
Private equity fund

| revenue =

| operating_income =

| net_income =

| aum = ¥180 billion JPY (2023){{Cite web|url=https://www.globiscapital.co.jp/en/news/_2668 |title=Announcement of Final Close of Fund VII and Launches New Base in San Francisco to Support Globalization |date=April 25, 2023 |website=Globis Capital Partners |access-date=December 27, 2024 |language=en}}

| assets =

| equity =

| num_employees =

| num_employees_year =

| subsid =

| website = {{URL| https://www.globiscapital.co.jp/en}}

}}

{{Nihongo|Globis Capital Partners Co., Ltd.|グロービス・キャピタル・パートナーズ株式会社| Gurōbisu Kyapitaru Paatonaazu kabushiki gaisha |{{IPAc-en|lang|ɡ|l|oʊ|b|ɪ|s}}|lead=yes}}, commonly referred to as GCP, is a Japanese private hands-on venture capital firm headquartered in Banchō, Chiyoda, Tokyo, Japan.{{cite web|url=https://www.globiscapital.co.jp/en/about/history/ |title=History |website=Globis Capital Partners |date=17 December 2018 |access-date=December 27, 2024}} GCP is part of the Globis Group.{{cite web |url=https://globis.com/about/corporate-profile/ |title=Corporate Profile |website=Globis Corporation |access-date=December 27, 2024}} As of April 2023, GCP manages a cumulative fund size of over ¥180 billion JPY (approximately $1.3 billion USD).

History

In 1996 Yoshito Hori founded Globis Capital Partners (GCP) as a hands-on venture capital business inside Globis Corporation to support Japanese startup portfolio companies {{cite web |url=https://carnegieendowment.org/research/2022/10/japans-venture-capital-industry-snapshot-of-growth-and-transformation?lang=en |title=Japan's Venture Capital Industry: Snapshot of Growth and Transformation |last=Kushida| first=Kenji |date=October 17, 2022 |website=Carnegie Endowment for International Peace |access-date=December 27, 2024}} That same year an initial 540 million yen GLOBIS Incubation Fund was raised. Globis Corporation, Yoshito Hori as general partner, and Soichi Kariyazono as managing partner contributed a combined 40 million yen to the fund. The remaining amount was covered by institutional investors and other companies, including about $1 million invested by Sega Enterprises’ chairman Isao Okawa.{{cite journal |url=https://researchmap.jp/kirihata/published_papers/36809399/attachment_file.pdf |title=hanzuon shikōgata benchaa kyapitaru – kabushiki kaisha gurōbisu kyapitaru paatonaazu |script-title=ja: ハンズオン志向型ベンチャーキャピタル ― 株式会社グロービス・キャピタル・パートナーズ ― |trans-title=Hands-On Oriented Venture Capital - Globis Capital Partners Co., Ltd.|last=Kirihata |first=Tetsuya |publication-date=2015 |journal=The Ritsumeikan Business Review |issue=53 |pages=113 |access-date=December 27, 2024 |language=ja}}{{cite web |url=https://globalventuring.com/corporate/gcv-powerlist-2022-soichi-kariyazono/ |title=GCV Powerlist 2022: Soichi Kariyazono |website=Global Corporate Venturing | last=Torney| first=Chris| date=May 17, 2022 |access-date=December 27, 2024}}{{cite news |url=https://www.forbes.com/global/2006/0213/056A.html |title=Venture Professor |work=Forbes |first=Tim |last=Kelly|date=February 13, 2006 |access-date=December 27, 2024}}

In 1999 Alan Patricof, the head of Apax Patricof selected Globis as a local partner in Japan to create Apax Globis Partners & Co. (AGP), a joint VC.{{cite web |url=https://www.japaninc.com/article.php?articleID=279 |title=Venture Watch: A hot venture company working in a cool climate |website=Japan Inc | last=Takezaki| first=Noriko| date=February 1, 2000 |access-date=December 27, 2024}} The resulting Apax Globis Japan Fund raised $187 million.{{cite news |url=https://www.wsj.com/articles/SB930868820355664816 |title=Yoshito Hori Quits Career Track, Turns Night School Into Riches |work=The Wall Street Journal | last=Spindle| first=Bill| date=July 2, 1999 |access-date=December 27, 2024}}

In 2004, Apax Globis Partners & Co. changed its name to Globis Capital Partners.{{Cite web|url=https://www.globiscapital.co.jp/en/news/__724 |title=Changes name of its venture capital business from Apax Globis Partners to Globis Capital Partners. |date=April 9, 2004 |website=Globis Capital Partners |access-date=December 27, 2024 |language=en}} In 2006, GLOBIS Fund III was raised. Globis Capital Partners Co., Ltd. was established as an independent advisory company to oversee the fund, becoming a separate entity from Globis Corporation.

Four additional funds were raised in 2013, 2016, 2019 and 2022. Globis Capital Partners reached a cumulative fund size of over ¥180 billion JPY (approximately $1.3 billion) with investments in over 200 Japanese companies in 2023.{{Cite web|url=https://www.marr.jp/menu/ma_strategy/ma_pefund/entry/46098

|title=dai 161 kai gurōbisu kyapitaru paatonaazu 7 gō fando (727 oku en) ga mezasu tōshi senryaku |script-title=ja:【第161回】【グロービス・キャピタル・パートナーズ】7号ファンド（727億円）が目指す投資戦略 |trans-title=[161st Edition] [Globis Capital Partners] The Investment Strategy Targeted by Fund 7 (72.7 billion yen) |date=August 18, 2023 |website=MARR Online |access-date=December 27, 2024|language=ja}}

In 2019 GCP established G-STARTUP, a startup accelerator program aimed at producing 100 unicorn companies. By 2023 the program had provided support to 173 startups.{{Cite news |url=https://diamond.jp/articles/-/334084 |title=Gurōbisu, kako saidai 727 oku en fando wo sosei – akuserareeshon keiei sapōto gurōbaruka suishin no 3 bon hashira de shien |script-title=ja:グロービス、過去最大727億円ファンドを組成──「アクセラレーション」「経営サポート」「グローバル化推進」の3本柱で支援 |trans-title=Globis forms the largest fund so far valued at 72.7 billion yen – drives support through three pillars of acceleration, managerial support, and globalization |last=Mine |first=Ryuichi |date=April 28, 2023 |work=Diamond Online |access-date=December 28, 2024|language=ja}}

On January 14, 2020, GCP announced the formation of GCP X, a specialized value-added team tasked organizational development, CXO-level recruitment support, and operational support.{{Cite news |url=https://japan.cnet.com/article/35147938/ |title=Gurōbisu, tōshisaki kigyō no "kachi kōjō" senmon chiimu GCP X wo sōsetsu |script-title=ja:グロービス、投資先企業の“価値向上”専門チーム「GCP X」を創設 |trans-title=Globis establishes specialized GCP X team to increase the value of its portfolio companies |last=Iizuka |first=Nao |date=January 14, 2020 |work=CNET Japan |access-date=December 28, 2024|language=ja}}

Globis Fund VII LP became the biggest private equity fund launched in 2022 that includes Japan as geographic focus.{{cite news |url=https://www.spglobal.com/marketintelligence/en/news-insights/latest-news-headlines/us-private-equity-investment-in-japan-rises-72619588 |title=US private equity investment in Japan rises |last1=Shahid |first1=Kiran |last2=Yamaguchi |first2=Yuzo |last3= Sabater |first3=Annie |date=October 25, 2022 |work= S&P Global |access-date=December 27, 2024}} Japan's Government Pension Investment Fund (GPIF) disclosed that same year that it would invest in Globis Capital Partners’ latest VC fund, a first in Japan.{{cite news |url=https://asia.nikkei.com/Business/Startups/Pension-giant-GPIF-to-invest-in-Japanese-startups-for-first-time |title=Pension giant GPIF to invest in Japanese startups for first time |work=Nikkei, Inc. |date=July 4, 2022 |access-date=December 27, 2024}}

In April 2024 GCP established a local office in San Francisco to support the global expansion of its portfolio companies.{{Cite news|url=https://www.nikkei.com/article/DGXZQOUC233FG0T20C23A4000000/ |title=Gurōbisu no 7 gō fando, 727 oku en ni beikoku ni shien kyoten |script-title=ja:グロービスの7号ファンド、727億円に　米国に支援拠点 |trans-title=GLOBIS Fund 7 Reaches 72.7 Billion Yen, Support Base Created in the US |date=April 25, 2023 |work=The Nikkei |access-date=December 27, 2024|language=ja}}

Investments

=1990s=

In 1999, Apax Globis Partners invested $3.5 million in ERP system manufacturer Works Applications. {{cite news |url=https://www.forbes.com/global/2005/1128/020A.html | title=Selling Them The Works |date=November 28, 2005 |work=Forbes |access-date=December 28, 2024}}

=2000s=

In August 2000, Apax Globis Partners invested $8.7 million in TV anime producer Gonzo Digimation Holdings.{{cite news |url=https://www.forbes.com/global/2006/0213/056A.html | title=Venture Professor |date= February 13, 2006 |work=Forbes |access-date=December 28, 2024}}
In July 2005, GCP invested about 100 million yen in internet media company Gree.{{Cite web|url=https://hd.gree.net/jp/ja/news/press/2005/0708.html |title=daisansha wariate zōshi to keiei taisei kyōka no oshirase |script-title=ja:第三者割当増資と経営体制強化のお知らせ

|trans-title=Notice of Capital Increase Via Third-Party Share Issuance and Strengthening of Management Structure |date=July 8, 2005 |website=GREE |access-date=January 6, 2025|language=ja}}

=2010s=

In April 2011, GCP joined a 350 million yen funding round in internet company KAYAC Inc.{{Cite web|url=https://www.kayac.com/news/2011/04/post_127.php |title=omoshiro hōjin kayakku ga daisansha wariate zōshi wo jisshi |script-title=ja: 面白法人カヤックが第三者割当増資を実施|trans-title=Kayac Inc. to Increase Capital Via Third-Party Share Issuance |date=April 8, 2011 |website=KAYAC Inc. |access-date=January 7, 2025|language=ja}}
In May 2012, GCP led a $3.6 million Series A round in e-learning platform Quipper.{{cite news |url=https://techcrunch.com/2012/05/18/quipper-raises-3-6m-for-its-fun-take-on-e-learning/ | title=Quipper Raises $3.6M For Its Fun Take On E-Learning |last=Butcher |first=Mike |date=May 18, 2012 |work=TechCrunch |access-date=January 6, 2025}}{{cite news |url=https://www.wsj.com/articles/DJFVW00020120521e85lsohhz | title=E-Learning Game Co. Quipper Raises $3.6M Series A |last=Chapman |first=Lizette |date=May 21, 2012 |work=The Wall Street Journal |access-date=January 6, 2025}}
In May 2013, GCP together with GMO VenturePartners invested a combined 300 million yen in crowdsourcing platform Lancers{{Cite web|url=https://www.lancers.co.jp/news/pr/1069/ |title=daisansha wariate zōshi no oshirase |script-title=ja:第三者割当増資のお知らせ |trans-title=Notice of Capital Increase Via Third-Party Share Issuance |date=May 21, 2013 |website=Lancers, inc. |access-date=January 7, 2025|language=ja}}
In August 2013, GCP invested a 420 million yen in Gocro, Inc., the company behind smartphone news app SmartNews.{{Cite web|url=https://about.smartnews.com/ja/2013/08/14/gocro-inc-raised-420-million-yen/|title=kabushiki kaisha gokuro, daisansha wariate zōshi wo jisshi 42 oku en wo chōtatsu – jinzai saiyō wo kasoku shi, SmartNews jigyō no kokunaigai de no hiyaku wo mezasu |script-title=ja:株式会社ゴクロ、第三者割当増資を実施し4.2億円を調達〜人材採用を加速し、「SmartNews」事業の国内外での飛躍をめざす |trans-title=Gocro, Inc. Increases Capital Via Third-Party Share Issuance and Procures 420 Million Yen in Funding – Aims to Accelerate Hiring, Boost SmartNews Business Domestically and Overseas |date=August 14, 2013 |website=SmartNews, Inc. |access-date=January 7, 2025|language=ja}}
In December 2013, GCP joined a $6 million funding round for EV sports car startup GLM.{{cite news |url=https://www.techinasia.com/tesla-rival-from-japan-coolest-electric-sports-car-ready-launch-globally | title= Tesla rival? Japan's coolest electric sports car is ready to roll |last=Corbin |first=David |date=July 28, 2014 |work=Tech in Asia |access-date=January 6, 2025}}
In March 2014, GCP helped to raise $14 million in funding for C2C marketplace Mercari.{{cite news |url=https://www.techinasia.com/mercari-raises-14-million-plans-open-office-month

| title=Mercari raises $14 million, plans to open U.S office next month |last=Wee |first=Willis |date=March 31, 2014 |work=Tech in Asia |access-date=January 6, 2025}} GCP also participated in a $5.8 million Series A2 round in e-learning platform Quipper.{{cite news |url=https://techcrunch.com/2014/03/06/quipper-series-a2/ | title=Atomico-Backed Quipper Gets Another $5.8M To Expand The Reach Of Its E-Learning Platform |last=Lomas |first=Natasha |date=March 6, 2014 |work=TechCrunch |access-date=January 6, 2025}}

In September 2014, GCP participated in a 472 million yen Series C fundraiser for business intelligence platform Uzabase.{{cite news |url=https://www.techinasia.com/uzabase-speeda-japan-series-c-funding-for-corporate-data-digging | title=Uzabase lands extra $4.5M to speed up and simplify corporate data digging |last=Quigley |first=J.T. |date=September 1, 2014 |work=Tech in Asia |access-date=January 6, 2025}}
In March 2015, GCP participated in a $10 million funding round in news app SmartNews.{{cite news |url=https://techcrunch.com/2015/03/30/japans-smartnews-raises-10m-at-a-320m-valuation-to-expand-in-the-u-s/ | title=Japan's SmartNews Raises Another $10M At A $320M Valuation To Expand In The U.S. |last=Lunden |first=Ingrid |date=March 30, 2015 |work=TechCrunch |access-date=December 28, 2024}}
In March 2016, GCP joined a $75 million Series D fundraiser for peer-to-peer marketplace app Mercari{{cite news |url=https://techcrunch.com/2016/03/01/mercari-unicorn/ | title=Marketplace app Mercari nabs $75M to become Japan's first startup unicorn |last=Shu |first=Catherine |date=March 1, 2016 |work=TechCrunch |access-date=December 28, 2024}}
In May 2016, GCP helped to raise 1.1 billion yen for handmade marketplace Creema.{{cite news |url=https://techcrunch.com/2016/05/27/japanese-handmade-marketplace-creema-raises-10m/ | title=Japanese handmade marketplace Creema raises $10M |last=Shu |first=Catherine |date=May 27, 2016 |work=TechCrunch |access-date=December 28, 2024}}
In October 2019, GCP joined a $42.9 million Series B for AI Medical Service, which develops AI-based software for gastric cancer detection.{{cite news |url=https://techcrunch.com/2019/10/04/ai-medical-service-raises-42-9-series-b-for-ai-based-software-that-checks-endoscopy-scans-for-signs-of-cancer/ | title=AI Medical Service raises $42.9 Series B for AI-based software that checks endoscopy scans for signs of cancer |last=Shu |first=Catherine |date=October 4, 2019 |work=TechCrunch |access-date=December 28, 2024}}
In November 2019, GCP participated in a $92 million funding round for news app SmartNews.{{cite news |url=https://techcrunch.com/2019/11/18/smartnews-funding/ | title=SmartNews raises $92M at a $1.2B valuation |last=Ha |first=Anthony |date=November 18, 2019 |work=TechCrunch |access-date=December 28, 2024}}

=2020s=

In August 2021, GCP co-led a $73 million Series B round in B2B supply chain marketplace CADDi with World Innovation Lab.{{cite news |url=https://techcrunch.com/2021/08/23/japans-b2b-ordering-and-supply-platform-caddi-raises-73-million-series-b-funding/ | title=Japan's B2B ordering and supply platform CADDi raises $73 million Series B funding |last=Park |first=Kate |date=August 23, 2021 |work=TechCrunch |access-date=December 28, 2024}}
In July 2023, GCP joined a $170 million Series B round of funding in Japanese robotics startup Telexistence.{{cite news |url=https://techcrunch.com/2023/07/06/softbank-backs-japanese-robotics-startup-telexistence-in-170m-funding-round/| title=SoftBank backs Japanese robotics startup Telexistence in $170M funding round |last=Park |first=Kate |date=July 6, 2023 |work=TechCrunch |access-date=December 27, 2024}} GCP increased its investment in B2B supply chain marketplace CADDi during a $89 million Series C round.{{cite news |url=https://techcrunch.com/2023/07/05/caddi-raises-89m-series-c-to-scale-its-b2b-supply-chain-marketplace-for-manufacturing-parts/ | title=CADDi raises $89M Series C to scale its B2B supply chain marketplace for manufacturing parts |last=Park |first=Kate |date=July 5, 2023 |work=TechCrunch |access-date=December 28, 2024}}
In September 2023, GCP led a $93 million Series B round with Global Brain for Josys, a SaaS and device management platform startup.{{cite news |url=https://pulse2.com/josys-93-million-in-funding/ | title=Josys: SaaS And Device Management Company Secures $93 Million In Funding |last=Chowdhry |first=Amit |date=September 7, 2023 |work=Pulse 2.0 |access-date=December 27, 2024}}{{cite news |url=https://www.avcj.com/avcj/news/3029956/global-brain-globis-lead-usd93m-round-for-japans-josys | title=Global Brain, Globis lead $93m round for Japan's Josys |last=Niessner |first=Justin |date=September 7, 2023 |work=AVCJ |access-date=December 27, 2024}}
In August 2023, GCP joined the final close of the $100 million Series E fundraising for social impact and microfinancing startup Gojo & Company.{{cite news |url=https://www.avcj.com/avcj/news/3029849/japan-vcs-back-usd100m-round-for-local-impact-investor-gojo | title= Japan VCs back $100m round for local impact investor Gojo |last=Niessner |first=Justin |date=August 18, 2023 |work=AVCJ |access-date=December 27, 2024}}
In April 2024, GCP led a 2.92 billion yen pre-series A round in AI manga localization startup Orange.{{cite news |url=https://thebridge.jp/en/2024/05/orange-pre-series-a-round-funding | title=Orange raises $19M in pre-series A to boost localization effort of Japanese manga titles |date=May 7, 2024 |work=The Bridge |access-date=December 27, 2024}}
In October 2024, GCP joined a Series B funding round in Japanese real estate database provider estie. together with Vertex Growth, University of Tokyo Edge Capital, and Global Brain.{{cite news |url=https://asia.nikkei.com/Business/Startups/Singapore-s-Vertex-invests-in-Japanese-real-estate-data-provider |title=Singapore's Vertex invests in Japanese real estate data provider |last=Suruga |first=Tsubasa |work=Nikkei, Inc. | date=October 8, 2024 |access-date=December 27, 2024}} GCP led the funding of startup Ookuma Diamond Device (ODD), which raised a total of approximately $45 million (6.7 billion yen).{{cite news |url=https://techcrunch.com/2024/10/16/this-startups-diamond-chips-help-remove-radioactive-debris-at-stricken-daiichi-nuclear-power-plant/| title=ODD taps $27M for diamond chips to clear radioactive debris at Fukushima Daiichi nuclear power plant |last=Park |first=Kate |date=October 16, 2024 |work=TechCrunch |access-date=December 27, 2024}} GCP joined a $21 million Series A funding round for Sun Metalon, a startup specialized in sustainable metal manufacturing.{{cite news |url=https://3dprintingindustry.com/news/sun-metalon-raises-21-million-to-enhance-its-new-metal-recycling-technology-233699/ | title=Sun Metalon Raises $21 Million to Enhance Its New Metal Recycling Technology |last=Tyrer-Jones |first=Alex |date=October 19, 2024 |work=3D Printing Industry |access-date=December 27, 2024}}

Investment funds

class="wikitable"

!Fund

!Vintage Year

!Capital (¥ JPY)

GLOBIS Incubation Fund

|1996

|¥540 million

Apax GLOBIS Japan Fund (joint fund with Apax Partners{{cite web |url=https://www.apax.com/funds-investors/funds/ |title=Funds |date=September 30, 2024 |website=Apax Partners |access-date=December 27, 2024}}

|1999

|¥20 billion

GLOBIS Fund III{{Cite news |url=https://japan.cnet.com/article/20307627/ |title=Gurōbisu kyapitaru paatonaazu, 7 nen buri ni fando wo sosei – 180 oku en kibo ni |script-title=ja:グロービス・キャピタル・パートナーズ、7年ぶりにファンドを組成--180億円規模に|trans-title=Globis Capital Partners establishes a new fund after seven years, valued at 18 billion yen |last=Nagai |first=Michiko |date=November 9, 2006 |work=CNET Japan |access-date=December 27, 2024|language=ja}}

|2006

|¥18 billion

GLOBIS Fund IV

|2013

|¥11.5 billion

GLOBIS Fund V

|2016

|¥20 billion

GLOBIS Fund VI{{cite news |url=https://www.avcj.com/avcj/news/3014648/globis-targets-usd321m-for-japan-vc-fund | title=Globis raises $321m for Japan VC fund |last=Niessner |first=Justin |date=April 18, 2019 |work=AVCJ |access-date=December 27, 2024}}{{cite news |url=https://www.privateequityinternational.com/globis-capital-partners-raises-322m/| title=Globis Capital Partners raises $322m |last=Yuan |first=Chin |date=April 18, 2019 |work=Private Equity International |access-date=December 27, 2024}}

|2019

|¥40 billion

GLOBIS Fund VII{{cite news |url=https://www.avcj.com/avcj/news/3029136/japans-globis-closes-fund-vii-on-usd544m | title=Japan's Globis closes Fund VII on $544m |last=Burroughs |first=Tim |date=April 27, 2023 |work=AVCJ |access-date=December 27, 2024}}{{Cite web|url=https://digital-shift.jp/dx_management/230720 |title=Gurōbisu kako saidai 727 oku en fando sosei. DX ni yoru hakaiteki kakushin de kokunai kyodai shijō no kasenka nerau |script-title=ja:グロービス、過去最大727億円ファンド組成。DXによる破壊的革新で国内巨大市場の寡占化狙う|trans-title=GLOBIS forms its largest fund so far at 72.7 billion yen. Aiming to dominate the huge domestic market with disruptive innovation through DX. |date=July 20, 2023 |website=Digital Shift Times |access-date=December 27, 2024|language=ja}}

|2022

|¥72.7 billion

Notable investments

Akatsuki Games: videogame company{{cite news |url=https://globalventuring.com/akatsuki-starts-ipo-game/|title=Akatsuki starts IPO game |last=Lavine |first=Robert |date=February 15, 2016 |work= Global Corporate Venturing |access-date=December 27, 2024}}
Gree: internet media company
Mercari: e-commerce platform{{cite news |url=https://www.venturecapitaljournal.com/the-japanese-venture-market-comes-of-age/|title=The Japanese venture market comes of age |last=Coe Smith|first= Claire |date=August 1, 2022 |work=Venture Capital Journal |access-date=December 27, 2024}}
SmartNews: news aggregator app{{cite news |url=https://techcrunch.com/2024/10/12/the-most-interesting-unicorns-to-come-out-of-japan/|title=The most interesting unicorns to come out of Japan |last=Park |first=Kate |date=October 12, 2024 |work=TechCrunch |access-date=December 27, 2024}}{{cite news |url=https://restofworld.org/2021/behind-smartnews-the-2bn-unicorn-seeking-to-fix-the-news-algorithm/ |title=Behind SmartNews, the $2 billion unicorn trying to fix the news algorithm |last=Deck |first=Andrew |date=October 14, 2021 |work=Rest of World |access-date=December 27, 2024}}
Works Applications: ERP system manufacturer{{cite news |url=https://www.ft.com/content/947dd3c4-0195-11e0-9c3e-00144feab49a | title=Venture capital: Years of stagnation leave market bereft |last=Whipp |first=Lindsay |date=December 9, 2010 |work= Financial Times |access-date=January 6, 2025}}