CDH leads $52m round for China's Boss Digital

Other participants included CMB International, China Merchants Venture, Hang Chen, the chairman of Boss Digital, and several of the company's mid-level and senior executives, according to a statement. There were also commitments from captive investment funds of Chinese state-owned enterprises.

The proceeds will support market expansion for Boss Digital's procurement management software, product and technology upgrades, and the implementation of a smart procurement platform. Smart procurement involves the integration of artificial intelligence into public procurement processes, with a view to delivering more efficiencies.

Boss Digital has won contracts to serve the Chinese government's central procurement website for 15 consecutive years. Its offering features data surveillance improvement, search engine optimisation, business and technical support, website security management, and maintenance of the government's procurement credit evaluation system.

The company also works with the Ministry of Finance and 22 central and provincial government procurement agencies, including those in Guangdong and Fujian provinces. The customer base also features 230 universities and dozens of large central SOEs, such as Aviation Industry Group and Ping An Insurance.

This is CDH venture-growth team's second B2B software deal so far this year. In March, it led a Series B round of nearly CNY 200m for 1Data, a robotic process automation (RPA) start-up that provides software for logistics specialists and supply chain managers. 

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• Topics
• Greater China
• Early-stage
• Technology
• China
• enterprise software
• China Merchants Capital
• CDH Investments Management