Sequoia leads Series B for Chinese intelligent sales player
Tungee, a Chinese sales-focused software-as-a-service (SaaS) platform, has raised RMB120 million ($17 million) in a Series B round led by Sequoia Capital China. Qiming Venture Partners also took part.
Founded in 2016 and based in Guangzhou, Tungee uses big data and artificial intelligence to improve the efficiency of customer-acquisition for business-facing enterprises. According to AVCJ Research's records, Alibaba Group and Qiming provided a RMB40 million Series A round in 2018.
The company has more than 400 employees and 4,000 customers, including Alibaba, China Mobile, and Focus Media. It claims to have the most complete enterprise information data in China. When a user looks for clients in certain fields, they need only type a few keywords and Tungee will automatically make recommendations. It provides information on decision-makers as well as analytics.
Data generated at different stages of the sales process is integrated, ensuring a smooth flow of information and low friction.
"We provide enterprises with full-process intelligent sales services from customer acquisition, customer management to order analysis. We not only have a standardized SaaS product that can quickly deploy applications, but also have a powerful commercial smart sales solution," said Kairan Chen, founder of Tungee.
Similar deals include Tencent Holdings committing $120 million in Series E funding to Xiaoshouyi, a sales software provider, and Udesk, a SaaS provider specializing in customer service systems, raising a RMB250 million extended Series C round.
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