ZEALS Co., Ltd. (referred to as “ZEALS” hereafter), the leading Chat Commerce provider with a concept of “Omotenashi Revolution,” announced that it has raised a total of ¥5 billion in funding.
JIC Venture Growth Investments led the ¥3.5 billion Series E round, with participation from Z Venture Capital, the venture investment arm of Z Holdings, Japan Post Capital, and Salesforce Ventures. Additionally, ZEALS has established debt facilities with Mizuho Bank and MUFG Bank, in the aggregate amount of ¥1.5 billion.
Purpose of The Financing
The purpose of this financing is to support the growth of Chat Commerce, also known as conversational commerce. This new way of engaging with customers and conducting transactions through chat applications is revolutionizing the e-commerce industry. According to a Juniper Research report, total spending on conversational commerce channels will reach $290 billion by 2025, with North Asia accounting for 90% of chatbot spending *1.
As a pioneer in the market, ZEALS is leading the adoption of Chat Commerce by large enterprises in various industries, including cosmetics, food, human resources, education, telecommunications, automobiles, finance, real estate, fashion, and entertainment. The COVID-19 pandemic has accelerated the shift towards online channels, fueling ZEALS’ growth and solidifying its dominance in the Japanese conversational commerce market.
The funds from this round will be used to develop new products, integrate rapidly evolving Natural Language Generation technologies, diversify go-to-market channels, and support expansion into overseas markets.
ZEALS will continue to apply science to conversations and prioritize the customer experience in its approach to conversational commerce. The company aims to expand its service offerings and bring the high standard of Japanese customer service to the world through technology, as part of its “Omotenashi Revolution” vision.
Company Name: ZEALS Co., Ltd.
Established: April 2014
Location: ARCO TOWER 6F, 1-8-1 Shimomeguro, Meguro-ku, Tokyo
CEO: Masahiro Shimizu