Matrix leads $15m round for China CRM platform Xiaoshouyi
Matrix Partners has led a $15 million Series C round of funding for Xiaoshouyi, a Chinese customer relationship management (CRM) platform, alongside Sequoia Capital.
Xiaoshouyi, which launched in 2011, provides software solutions that allow companies to automate sales force management. Its clients include Focus Media, E-House and Beijing Richfit Information Technology.
Sequoia provided an undisclosed amount in Series A and Series B funding for the company in 2013 and 2014. Before that Xiaoshouyi also received seed funding from Cloud Angel Fund in 2012. The vehicle was set up by China Broadband Capital, Sequoia, Northern Light Venture Capital and GSR Ventures, and focuses on early-stage cloud computing and big data companies in China.
The new capital will be used for technology upgrades and to improve services to corporate clients, according to a statement.
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