Brainsync raised 98M yen from Mitsui Sumitomo Insurance Venture Capital /Venture Now

Brainsync revealed that it completed its round C fundraising of 98 million yen at the end of January.

Since 2007, Brainsync has operated "syncl", cloud service for individuals and businesses centered around artists, which provides features such as social networking and communication among fans as well as streaming and selling digital contents.

As of February of 2011, it has about 400,000 members including 6,000 artists. With the capital raised, the company plans to expand overseas, strengthen the system of fan club, official contents, and subscription sales, and starts promotion service using artists.

Venture Now 2/14/2011

memo

• Existing shareholders of Brainsync include Japan Avex Marketing, Asia Investment, Orix Capital and CyberAgent.