News aggregator SmartNews raises $230 million, valuing its business at $2 billion
SmartNews, based in Tokyo, a leading news aggregation website and app, has secured $230 million in Series F funding. This latest round of financing brings SmartNews' total raised capital to over $400 million and values the company at $2 billion. In its press release, SmartNews proudly refers to this valuation as achieving "double unicorn" status. The funding round included significant contributions from new U.S. investors Princeville Capital and Woodline Partners, alongside JIC Venture Growth Investments, Green Co-Invest Investment, and Yamauchi-No.10 Family Office from Japan. Existing investors such as ACA Investments and SMBC Venture Capital also participated in this round.
Founded in Japan in 2012, SmartNews expanded to the U.S. market in 2014 and increased its focus on local news early last year. The platform employs machine learning to curate personalized news selections for users, supplemented by a content team comprising former journalists. A distinguishing feature of SmartNews is its "News From All Sides" capability, designed to broaden user perspectives by presenting news across diverse political viewpoints.
SmartNews has introduced innovative products including COVID-19 vaccine and U.S. election dashboards, offering users critical information efficiently. With the fresh funding, the company aims to enhance its offerings for its substantial U.S. audience, alongside Japan, focusing particularly on consumer health and safety. Planned updates in the coming months will include features for tracking wildfires, crime updates, and safety reports, complementing its recent launch of a hurricane tracker.
