Voyage Group

What Voyage Group does

Voyage Group operates as a Tokyo-headquartered Japanese IT and digital advertising technology company (publicly listed on the Tokyo Stock Exchange under ticker 3688), currently branded as CARTA HOLDINGS and positioned as an 'Evolution Factory' that drives enterprise and industry evolution through digital services. The group is structured as a holding company with wholly-owned operating subsidiaries including CARTA ZERO (advertising technology and data analytics) and fluct (engineering and technology services). Its core offering is an integrated digital advertising platform that combines programmatic ad delivery with large-scale data analysis, anchored by a data asset covering over 100 million IDs used for audience targeting and campaign effectiveness verification. The flagship product launched in July 2026, 'docomo data square Ads', is delivered through a strategic partnership with NTT DOCOMO and bundles data analysis, ad delivery, and verification into a single solution targeting enterprise advertisers and digital marketers in the Japanese market.

The company monetizes primarily through B2B digital advertising services and data-driven marketing solutions, reaching enterprise advertisers and marketing professionals via a direct enterprise field-sales motion rather than self-serve or SMB channels. Distribution is hybrid: a direct sales team targets large advertisers, while the DOCOMO partnership embeds CARTA's analytics inside the mobile carrier's ecosystem through the docomo data square platform. The company has pursued a sustained M&A strategy to consolidate adtech capabilities, with disclosed acquisitions of Kauli (2015), CMerTV (2016), and rakanu (2019). Leadership is headed by President and CEO Shinsuke Usami, with Koga Masanori serving as Director and CTO and Nagaoka Hidenori as Director and CFO. The company also maintains content platforms (EVOLuTION editorial, a tech blog) and a presence on X, Instagram, and Facebook, reinforcing its brand presence with both enterprise buyers and the broader Japanese digital ecosystem.

Name

Voyage Group

Legal name

株式会社CARTA HOLDINGS

Website

https://voyagegroup.com

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

101–250 employees

Short description

Voyage Group (CARTA HOLDINGS) is a publicly listed Tokyo-based digital advertising technology company that builds integrated ad-delivery and data-analytics platforms, processing over 100 million IDs to serve enterprise advertisers and marketers, primarily in Japan.

Ownership category

akta.pro rank

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations

Revenue model

1. Digital Advertising Services: Programmatic advertising and ad delivery services through platforms like docomo data square Ads, providing end-to-end solutions from data analysis to ad delivery and effect verification
2. Data-Driven Marketing Solutions: Data analytics and marketing technology services leveraging large-scale ID data for targeted advertising and campaign optimization

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Voyage Group (part of CARTA HOLDINGS) operates as a digital advertising and data analytics company providing programmatic advertising solutions through its group companies including CARTA ZERO. The company leverages data analysis of over 100 million IDs for audience targeting, programmatic ad delivery, and effectiveness verification. Key products include docomo data square Ads distributed through NTT DOCOMO's platform, with the company's holding company structure encompassing diverse digital services and content aligned with its 'Evolution Factory' philosophy.

Product overview

CARTA HOLDINGS operates as a unified holding company structured as an "evolution promotion business" (進化推進業). The company encompasses multiple group companies including CARTA ZERO (advertising technology and data analytics), fluct (engineering/technology services), and platforms like EVOLuTIONN (editorial content). The portfolio provides integrated solutions spanning digital advertising, data analysis, and technical engineering content, unified under the purpose "expanding possibilities of people and future through human emotions."

Differentiator

Problem solved

Functional benefit

Products and services

• docomo data square Ads An integrated advertising solution offering data analysis of over 100 million IDs, ad delivery, and effectiveness verification in a single offering. Distributed through NTT DOCOMO's docomo data square platform, targeted at enterprise advertisers and brands seeking large-scale mobile-first advertising solutions with data-driven targeting capabilities.

Quantifiable outcome

• Processing over 100 million IDs for data analysis and advertising targeting

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

One partnership is on record.

• NTT DOCOMOcoreStrategic or Co-development Partner · 1 July 2026CARTA HOLDINGS group company CARTA ZERO partnered with NTT DOCOMO to launch 'docomo data square Ads', an integrated advertising service providing data analysis, ad delivery, and effectiveness verification powered by over 100 million ID data assets. The partnership enables CARTA to leverage DOCOMO's mobile user base and data ecosystem for targeted advertising solutions.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• The Trade Desk: Global independent programmatic DSP competing for the same enterprise advertiser demand-side budgets as CARTA ZERO; represents the global benchmark for what a pure-play programmatic platform can scale to and the competitive ceiling CARTA faces.
• Magnite: Largest independent omnichannel sell-side ad-tech platform globally; comparable technology layer to CARTA's programmatic infrastructure and competes indirectly as a partner/competitor in the broader CTV and display programmatic stack.
• Digital Garage: Larger Japanese internet conglomerate with significant digital advertising, marketing technology, and fintech operations; broader portfolio than CARTA but overlapping in ad-tech and data-driven marketing services for Japanese enterprise clients.
• Criteo: Global performance retargeting and commerce media ad-tech company; comparable end-to-end data-and-delivery stack for outcome-based advertising and represents the kind of global, data-driven competitor CARTA faces in performance budgets.

Emerging players

• AppLovin: Mobile-first ad-tech and monetization platform with strong data-and-AI-driven targeting; comparable technology orientation (large ID-based audience graph, integrated ad delivery, measurement) and a relevant comparable for where a mobile-data-led ad-tech business can scale.

Regional players

• Intage Holdings: Japanese marketing research and data analytics company serving enterprise advertisers; overlapping in the data-analysis layer of CARTA's stack and a regional player that competes for the same Japanese brand-side measurement and audience insight wallet.

Direct peers

• i-mobile: Japanese mobile-focused ad network and programmatic platform; competes with CARTA on mobile-first advertising inventory and audience targeting, particularly relevant given CARTA's mobile-carrier (DOCOMO) data strategy.
• GMO AD Partners: Japanese digital advertising affiliate and ad-tech business within the GMO Internet Group; competes for enterprise advertiser budgets through integrated ad-tech and performance marketing, with similar end-to-end positioning to CARTA.
• FreakOut Holdings: Tokyo-listed ad-tech group offering programmatic DSP and integrated digital marketing solutions; directly competes with CARTA ZERO on demand-side programmatic buying in Japan and shares the same enterprise-advertiser GTM motion.
• Septeni Holdings: Japanese digital advertising holding company operating a digital marketing agency and ad-tech platform; directly comparable to CARTA's holding-company structure with group companies spanning ad operations, programmatic, and data — competing for the same Japanese enterprise advertiser wallet.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/CARTA_HOLDINGS
• Facebookfacebook.com/voyagegroup
• Instagraminstagram.com/carta_holdings

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments17 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Voyage Group