SunBridge Partners Exits Concur Japan
SunBridge Partners, the pioneer in helping global software leaders to launch and scale their Japan operations, sells its stake in Concur Japan Joint Venture
SAP (NYSE:SAP) BEACHWOOD, OH, USA, August 25, 2020 /EINPresswire.com/ — SunBridge Partners, a venture capital firm targeting investments in global leaders in enterprise software in the US and Japan, is proud to announce the conclusion of its most successful partnership to date: Concur (Japan) Ltd. (“Concur (Japan)”), the Japan joint venture between Concur Technologies, Inc. (“Concur”) and SunBridge Corporation (later, SunBridge Partners “SunBridge”), prior to SAP’s acquisition of Concur in 2014.
SunBridge initially engaged with Concur in 2010 to help establish its Japan operations, structured with SunBridge’s Japan-entry joint venture (“JV”) model. Other SunBridge Japan-entry JVs include Marketo Japan, Kyriba Japan, and Demandware Japan. SunBridge was also pleased to have Marc Benioff as a strategic partner and co-investor in Concur (Japan) since inception.
“We were grateful to work with Mimura-san, one of the most capable leaders in our entire portfolio, as he and his team grew Concur (Japan) to become the dominant player in its segment in Japan.”— Ken Ehrhart
SunBridge helped launch the Concur business in Japan, assisted in hiring and supporting Concur (Japan) CEO Masamune Mimura, identified and onboarded initial customers, and partnered with both the local team and headquarters to help maximize the growth and success of the Concur (Japan) joint venture.
“SAP Concur is the undisputed leading global brand in travel, expense and invoice management,” said SunBridge General Partner Ken Ehrhart, who led SunBridge’s relationship with Concur and sat on the Board of Concur (Japan). “We were grateful to work with Mimura-san, one of the most capable and talented leaders in our entire portfolio, as he and his team grew Concur (Japan) from the ground up to become what’s now the dominant player in its segment in Japan.”
About SunBridge Partners
SunBridge Partners is a venture capital firm focused on helping global leaders in enterprise software and Software-as-a-Service (SaaS) enter and become growth success stories in the Japanese market. SunBridge successfully co-founded Concur (Japan), Marketo Japan, Demandware Japan, and Kyriba Japan, creating over $1.3B in Japan JV valuation in partnership with JV parent companies worth over $195B in total. SunBridge, with offices in Japan and the U.S., has invested over $100m in more than 65 portfolio companies. More information is available at www.sunbridgepartners.com.