Japan’s oVice raises $32M Series B funding led by multiple investors

OVice, a Japan-based virtual office platform, announced Wednesday a 45 billion yen (around $32.5 million) Series B funding round led by a group of Japanese and overseas investors.

The company said in a statement the investment puts the company’s total raised capital at $45 million.

According to the statement, it plans on creating solutions that streamline remote and hybrid work and facilitate employee onboarding, team management, and online collaboration.

The firm plans to solidify its standing as a leading online collaboration platform in Japan and grow its user base overseas. It is also focusing on creating new solutions for hybrid work — an approach that combines in-office work and telecommuting.

The team is allocating these resources in four key directions: building solutions tailored to hybrid workplaces that help align office and remote teams; overseas expansion in North America, Europe, and other regions; attracting top talent to the project; marketing and public relations activities

“The end goal is to create a platform that would eliminate friction in remote and hybrid workflows: employee onboarding, instant communication, and team building. oVice is hoping to achieve this by bringing the social benefits of the physical office — visibility, accessibility, and immediacy — to online interactions,” said Sae Hyung Jung, the Chief Executive Officer of oVice:

During the last two years, the platform’s consistent growth proved that organizations have a long-term interest in virtual office technology. In the future, the oVice team aims to make virtual offices an integral part of remote and hybrid collaboration tech stacks.

oVice is a global virtual office space provider designed to facilitate collaboration and talent management in hybrid and remote workplaces.

The platform pioneered the concept of the virtual office — an online space that resembles a physical office by design and features – in Japan and became one of the leading software as a service (SaaS) companies in the country.

Like a physical office, oVice enables instant connections and gives a clear view of who is available at the moment. First-time users can experience the features of the platform and directly connect with the product team in a public tour space.

oVice was launched in 2020 as a way to give teams, disconnected during the pandemic, a common meeting point. It offers fully customizable virtual spaces for offices, online classrooms, and event venues.

As of 2022, the firm has long-term contracts with over 2,200 organizations and boasts over $6 million in annual recurring revenue (ARR). More than 60,000 daily active users log into the platform to work in over 30,000 spaces created since its launch.

Japan’s oVice raises $32M Series B funding led by multiple investors. Congratulations to the entire team. I wish you great success in this endeavour.

Shishir Gupta, Founder and CEO, StartupLanes

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