Japanese referral recruiting start-up MyRefer Inc. has raised 360 million yen ($3.25 million U.S.) through a third-party allotment of new shares underwritten by Tokyo-based venture capital firm Gree Ventures and Persol Holdings.

Gree Ventures decided to support the company because it offer a product made from the users’ perspective and already has high recruitment performance at major Japanese companies.

While MyRefer began its operation in Sept. 2015 as a pioneer in referral adoption, the business was recently incorporated (we reported on it here). Despite the investment from Persol, the site will continue to operate as an independent company.

MyRefer runs its referral adoption services from I-MyRefer.jp. The recruiting service is used by 100,000 employees in 370 companies.

The site plans to use the funds to develop new functionality and HR tech services for improving employability.

“We will actively invest in new functions development, recruitment, and marketing with this third-party allocation capital increase,” the company said in a news statement.

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