IDG, DCM, NLVC commit $100m to China mobile office platform
IDG Capital Partners, DCM and Northern Light Venture Capital (NLVC) have participated in a $100 million Series D round of funding for Fxiaoke.com, a Chinese cloud-based mobile business management application.
The latest round values the company at four times its last funding round, the company said in a statement.
Operated by Facishare Technology, the mobile platform launched in 2011. It started out as a sales management software provider for Chinese enterprises, and then expanded into other fields such as operation management, suppy chain and customer relationship management. The company has more than 110,000 corporate clients.
IDG committed $3 million in a Series A round in 2012, while NLVC led a $10 million Series B round last July. In December, the company raised a further $50 million led by DCM, with IDG and NLVC re-upping.
Fxioake has ambitions to become a service provider "connecting enterprises' everything." The new capital will be used to accelerate technology upgrades and provide custom-made management tools for different industries.
Two months ago, Matrix Partners led a $15 million Series C round for Xiaoshouyi, a Chinese CRM platform, alongside Sequoia Capital. The firm received seed funding from Cloud Angel Fund in 2012. That vehicle was set up by China Broadband Capital, Sequoia, NLVC and GSR Ventures, and focuses on early-stage cloud computing and big data companies in China.
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