Founded back in 2008, 99designs was bootstrapped for its first few years before raising a big $35 million round led by Accel Partners. The round’s a bit smaller this time around, but CEO Patrick Llewellyn said this was « not about the money we could raise. »
Instead, by taking money from Recruit Strategic Partners (the Silicon Valley-based venture arm of Japanese advertising and human resources company Recruit Holdings), Llewellyn is hoping to build a partnership that moves 99designs into Japan, and more broadly into Asia.
« We have an established business and model that doesn’t require significant capital to fuel its growth, but gaining access to real local market knowledge and distribution channels, coupled with the opportunity to gain broader access to enterprise…
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