PLAID, Inc. Due Diligence
Run due diligence on PLAID, Inc.: check compliance and get alerts when suppliers change.
Japan · plaid.co.jp · 17 vendors
PLAID, Inc. is a Japanese company that develops and operates the customer experience (CX) platform KARTE. This platform enables businesses to collect and analyze user behavior data from websites and smartphone applications, facilitating personalized communication and marketing through real-time analytics, multi-channel campaigns, and targeted ad delivery. The company's mission is to maximize the value of people with the power of data.
Resilience scores
- Digital Sovereignty: 12
- Digital Resilience: 7
- Financial Resilience: 6
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Services catalogue
5 services in catalogue across 2 categories; runs on 17 sub-vendors.
- ACH verification
- Account Linking and Aggregation
- KARTE
Insights
Last updated 2026-06-24 · revision 2
17 direct vendors, 175 subvendors
Direct vendors by controlling owner country (sample)
- United States: 15
- Japan: 2
Subvendors by controlling owner country (sample)
- Germany: 2
- United States: 127
- Sweden: 5
Compliance
9 in-scope frameworks identified; showing 3.
GDPR (source) — No public evidence
Evidence: https://plaid.co.jp/privacy/, https://plaid.co.jp/company/overview/
ISO 27001 (source) — Evidence found
Evidence: https://plaid.co.jp/company/overview/, https://plaid.co.jp/privacy/security/, https://plaid.co.jp/
Act on the Protection of Personal Information — Evidence found
Evidence: https://plaid.co.jp/privacy/, https://plaid.co.jp/company/overview/, https://privacymark.jp/
Financials
Three-year financials
- 2024:
- 2023:
- 2022:
Financial Resilience Score: 6/10
PLAID, Inc. demonstrates moderate financial resilience characteristic of a growth-stage Japanese SaaS company. The company achieved a significant milestone in October 2024 by crossing ¥10 billion in total Group ARR, indicating meaningful scale and recurring revenue visibility from its KARTE CX platform. The subscription-based business model provides revenue predictability, and the company benefits from a diversified product portfolio spanning KARTE Datahub, Blocks, Signals, Message, Craft, RightSupport, and newer AI-native products like KARTE AI and Context Lake. Strategic partnerships with Google, Mitsui & Co., and Hakuhodo DY ONE add credibility and distribution leverage. Paid-in capital of ¥2.67 billion provides a reasonable equity base. However, the company has historically prioritized growth over profitability, which is typical of post-IPO Japanese SaaS firms, and exact margin trends could not be verified in this session. The aggressive M&A strategy (EmotionTech, RightTouch, Agito, CODATUM, CloudFit) creates integration risk and likely increases goodwill/intangibles on the balance sheet. Domestic concentration (~100% Japan) limits diversification and exposes the company to local market cycles. Competition from global CDP/CX vendors (Adobe, Salesforce, Treasure Data, Braze) is intensifying, and the pivot to AI-native products represents both the primary growth opportunity and a key execution risk.
Key strengths: Recurring SaaS revenue model with Group ARR exceeding ¥10 billion as of October 2024, Diversified CX product portfolio including KARTE, Datahub, Blocks, Signals, Message, Craft, and AI products, Strategic partnerships with Google, Mitsui & Co., and Hakuhodo DY ONE, Active M&A-driven growth strategy expanding capabilities (EmotionTech, RightTouch, Agito, CODATUM, CloudFit), Listed company governance on TSE Growth Market since December 2020 with audited disclosures, Strong technical certifications (ISO/IEC 27001, ISO/IEC 27017, PrivacyMark), Paid-in capital of ¥2.67 billion providing equity base
Risk factors: History of operating losses and thin profitability typical of growth-stage SaaS, Heavy domestic concentration with essentially 100% Japan revenue exposure, Customer concentration in Japanese e-commerce, retail, and financial services sectors, M&A activity increases goodwill/intangibles and creates integration risk, Intense competition from global CDP/CX vendors (Adobe, Salesforce, Treasure Data, Braze), Execution risk on AI-native product pivot (KARTE AI, Context Lake, PLAID ALPHA), Sensitivity to consumer-spending and ad-budget cycles
Revenue by geography
- Japan: 100%
Revenue by product/service
- KARTE SaaS (Recurring/Subscription): 100%
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