SmartNews says it plans on closing its latest funding round, netting $92 million in new funds, in December.
The Series E round is led by Japan Post Capital Co. Ltd and ACA Investments Pte Ltd. Other investors include Globis Capital Partners Co., Ltd., Dentsu, Inc, and D.A. Consortium Inc. The new funding brings its total funding to $182 million to date, along with a valuation of $1.2 billion.
SmartNews is a global news discovery company that delivers news and information to users via its app. Using it’s platform, SmartNews provides news that matters to millions of users thanks to its unique machine learning technology and relationships with over 400 U.S. publisher partners.
“The close of our newest funding round represents an important milestone for SmartNews,” said Ken Suzuki, SmartNews Co-Founder and CEO, in a statement. “Our investment partners have recognized the value that we provide to our readers and the media ecosystem we help support. Together, we will continue to provide quality information to those who need it, both in the US and worldwide.”
SmartNews will use its latest funding to continue the expansion of its global engineering teams for mobile, back-end and machine learning development.