kickflow Successfully Raised Approximately 510 Million Yen in Pre-Series A, Led by HENNGE 2023.10.26


HENNGE K.K. (headquarters: Shibuya, Tokyo, Representative Director, Chief Executive Officer: Kazuhiro Ogura, "HENNGE") is pleased to announce that it has invested in kickflow, Inc. (headquarters: Chiyoda-ku, Tokyo, Chief Executive Officer: Taito Shigematsu), the provider of the cloud workflow system "kickflow," as the lead investor in a pre-series A round, in which kickflow raised approximately 510 million yen and closed this round. We are also pleased to announce that Shota Kawaminami, Executive Officer of HENNGE, was appointed outside director of kickflow, Inc.

Since its launch in 2020, the cloud workflow "kickflow" service has been rapidly adopted by major companies and growing enterprises, with a good reputation for its contribution to improving corporate productivity by speeding up the ringi process (*1), reducing managers’ workload, and providing flexible integration for tools.
*1 Ringi is a traditional decision-making process in Japanese companies, circulating papers to multiple divisions and obtaining approvals from the parties concerned.

HENNGE, which improves corporate productivity through the development and sales of HENNGE One, invested in kickflow in February 2022 (*2), believing it could generate business synergies because both companies provide services for information system departments in enterprises. Subsequently, it became clear that HENNGE One users had needs for kickflow, and we believed that we could promote the improvement of corporate productivity in a wide range of fields by leveraging the strengths of both companies. That made HENNGE complete an additional investment to kickflow, Inc. (*3), which presupposed a business alliance agreement, and start selling "kickflow" from October 24, 2023 (*4).
Furthermore, the appointment of HENNGE's executive officer as an outside director of kickflow will enable both companies to strengthen their collaboration and enhance the value of their services.

HENNGE will continue to put effort into further investment in companies to create business synergies.

*2 "HENNGE Invests in kickflow, Inc., a Cloud-based Ringi and Workflow System Provide"
*3 "HENNGE Invests as Lead Investor in Pre-Series A round of kickflow, Inc., the Provider of Cloud Workflow “kickflow”"
*4 "HENNGE Begins Sales on Behalf of "kickflow," a Cloud Workflow that Streamlines Ringi and Approval Process"

■ The underwriters of this round
<Existing Investors>
GREE Ventures, Inc.

<New Investors>
Sansan, Inc.
Mitsubishi UFJ Capital Co., Ltd.
SMBC Venture Capital Co., Ltd.

Comments from Mr. Taito Shigematsu, CEO of kickflow, Inc.
It is encouraging to have the opportunity to form a capital and business alliance with HENNGE, which experienced both sweet and sour times in its 27 years of history as a pioneering company, and to have Mr. Kawaminami, an executive officer who joined HENNGE from its early days soon after his graduation and has contributed significantly to its growth, serves as an outside director.

I am sorry to repeat the same story in every press release, but I believe a "business alliance" does not always produce immediate results, and there would be many ups and downs. We will strive for both parties' growth and make an excellent example of collaboration between a listed company and a start-up.

Comments from Mr. Shota Kawaminami, Executive Officer of HENNGE K.K.
HENNGE is pleased to have closed this round, which we led as the lead investor, with the participation of existing and many new investors.
I am also pleased to announce my appointment as an outside director of kickflow, Inc. Including the recently announced commencement of selling “kickflow,” HENNGE will strengthen its partnership with kickflow, Inc. to contribute to the company's growth and boost the productivity of our customers.

■ About kickflow, Inc.
Company name: kickflow, Inc.
Location: KS Floor, Risona Kudan Building 5F, 1-5-6 Kudan Minami, Chiyoda-ku, Tokyo
Representative: Taito Shigematsu
Business content: Planning, development, operation and sales of “kickflow”

■ About HENNGE K.K.
HENNGE K.K. was established in November 1996. It is a SaaS company, guided by the philosophy of "liberation of technology to change the world" and it develops and sells unique services that bridge the gap between technology and reality. HENNGE provides "HENNGE One," a one-stop cloud security service enabling consolidated IDs and passwords management of multiple cloud services and "Customers Mail Cloud" which is a cloud email distribution service. Since October 2019, HENNGE had been listed on the Tokyo Stock Exchange (TSE), Mothers, and then, a transition was made to the TSE Growth in April, 2022.
The company name "HENNGE" originated from the Japanese character for transformation, 'HENNKA' and 'CHALLENGE', which represents its commitment to keep challenging against every change we encounter.

Company name: HENNGE K.K. (securities code: 4475)
Address: Daiwa Shibuya Square, 16-28 Nanpeidaicho, Shibuya City, Tokyo
Representative: Kazuhiro Ogura (Representative Director, Chief Executive Officer)

■ Contact information for inquiries regarding this press
Corporate Communication Division
TEL: 03-6415-3660
Person in charge: Yano

*The names of companies, products and services mentioned in this press are trademarks or registered trademarks of HENNGE.K.K. or other related organizations.

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