Startup Profile: Goodpatch
Goodpatch is an independent design company, driven by the mission to prove he power of design. Goodpatch collaborates with a network of global corporate partners to solve complex problems with a human and planet-centric approach.
Calling Goodpatch a “startup” might be a slight mis-classification. The company was founded in 2011 and raised their Series A through C rounds in December 2013, February 2016, and April 2017, respectively, before becoming the first design firm to IPO on the Tokyo Stock Exchange in 2020. Goodpatch’s current market capitalization is around USD 40m, compared with an all-time high in October 2020 of six times that. The pandemic has not been kind to the company, especially their European operations, whose closure was announced together with the publication of the full fiscal year results in October. With that reduced market capitalization in mind, “startup” could be once again seen as the right attribute, and we hope the company will be able to scale a second time with the post-pandemic normalization setting in.
Boris Jitsukata discussed “The Power of Design” at a Tokyo FinTech Meetup in October, an the recording of the event is available on the Tokyo FinTech YouTube channel:
Goodpatch provides both a “classic” design business as a one-stop service from product development strategies to concept design, UI/UX design and development, as well as a “platform” business with a fully remote design time and various design, collaboration and prototyping tools.
Goodpatch has an extremely strong client base, and won 12 Good Design Awards over a nine year span. Through its design work, Goodpatch has also supported nine startups going public.
Stretching beyond designing new digital products, Goodpatch has also expanded into designing new digital businesses, i.e. venture building. Rather than stopping at a validated prototype and confirming problem-solution fit, venture building continues the work to confirm product-market fit.
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