News discovery and aggregation app SmartNews has announced it will close its $92 million Series E round in December. The funding was led by Japan Post Capital Co and ACA Investments and values the company at $1.2 billion.
SmartNews claims to be the fastest-growing news app in the US, boasting 500% year-on-year growth. The latest funding round will be used to continue the expansion of its global engineering teams for mobile, backend and machine learning development, fuelling the company’s growth in the US and worldwide.
“The close of our newest funding round represents an important milestone for SmartNews,” said Ken Suzuki, co-founder and CEO of SmartNews.
“Our investment partners have recognized the value that we provide to our readers and the media ecosystem we help support. Together, we will continue to provide quality information to those who need it, both in the US and worldwide.”
The Series E round follows the $28 million that SmartNews announced in August. It brings the startup’s total funding to $182 million.