Sequoia backs China CRM platform Xiaoshouyi
Sequoia Capital has provided a Series A round of funding for Xiaoshouyi, a Chinese customer relationship management (CRM) platform.
Financial details were not disclosed, but Xiaoshouyi will use the capital for upgrading its product services, brand building and establishing sales and distribution networks, Allan Shi, the company's founder, told local media.
Xiaoshouyi, which launched in 2011, provides software solutions that allow companies to automate sales force management. It recently introduced a business card management tool to its platform, which enables users to organize personal contacts by activating mobile apps.
The firm has more than 10,000 users, of which about 100 are private enterprises.
It received seed funding from Cloud Angel Fund last year. That vehicle was set up by China Broadband Capital, Sequoia, Northern Light Venture Capital and GSR Ventures with total investment capital of $10 million. It focuses on early-stage cloud computing and big data companies in China.
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