Chinese smart IT services provider Udesk raises $35m
Udesk, a software-as-a-service (SaaS) provider focused on customer service systems, has raised RMB250 million ($35 million) in an extended Series C round from an undisclosed US hedge fund.
The first tranche of the Series C closed at RMB300 million in 2018. It was led by Tiger Global Management with participation from existing investors Legend Capital and DCM. The two VC firms have backed the company since 2015, providing Series A and Series B rounds over the course of two years.
Udesk was established in 2013 and launched its end-to-end customer service solution in 2015. It claims to work with more than 10,000 customers, of which 50 feature in the Fortune Global 500. Clients include Everbright Bank, China Merchants Group, Procter & Gamble, Shell, Chinese hot pot chain Haidilao, and air conditioner manufacturer Gree.
It operates an artificial intelligence-powered interactive platform that integrates voice, email, instant messaging, and social media. The company’s AI-powered robots are constantly online to answer questions from customers.
Following the first tranche of the Series C, Udesk expanded its coverage from customer service to capture a wider range of internal IT functions. Recent projects include providing smart IT maintenance services to KWG Property and helping China Mengniu Dairy on quality control and data analysis.
Other participants in the SaaS customer relationship management (CRM) space include Xiaoshouyi, which last year received $120 million in Series E funding. There are also plenty of competitors in digitized IT services, among them Cloudwise, which secured $24 million in an extended Series D round.
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