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CMC, HG Capital lead $26m round for China’s Newrank

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China-focused GPs CMC Capital Partners and HG Capital have jointly led a RMB180 million ($26 million) Series B round of funding for Newrank, a Shanghai-based media platform.

Fortune Capital also participated in the round, according to a statement.

Founded in 2014, Newrank provides real-time data analysis and ranking services for content on Chinese media platforms, including accounts on Tencent Holdings' WeChat platform and Sina Weibo. The company currently monitors over 10 million offical WeChat accounts. Within this, it tracks the daily activities of about 350,000 companies across more than 20 industry sectors. 

In addition, Newrank has formed partnerships with more than 20 new media platforms, including news app Toutiao and video-streaming platforms Youku Tudou and iQiyi, to provide personalized data analysis and rankings.

The company reportedly raised a RMB20 million Series A round from SkyChee Ventures in 2015. Last year, it received an undisclosed sum in an extended Series A round from Zhen Fund, Banyan Capital and Weiying Capital.

The new funding will be used to further develop Newrank’s business in data consulting, marketing, e-commerce and copyright distribution, Ruigang Li, founder and chairman of CMC Capital, said in the statement.

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