DCM invests $3m in China’s Udesk
DCM has committed $3 million in a Series A round of funding to Udesk, a China-based customer service outsourcing business.
Founded in December 2013 by former employees of Tencent Holdings and other domestic internet companies, Udesk offers a traditional call center service combined with numerous digital functions such as email, microblogging and instant messaging.
It represents another strand to China's growing internet-based enterprise services industry, which spans big data, software-as-a-service and cloud computing.
Last week, cloud storage and data analytics provider UCloud - another DCM portfolio company set up by former Tencent executives - secured $100 million in Series C funding led by Legend Capital. DCM, VMS Investment Fund, Bertelsmann Asia Investments and GX Capital also participated.
DCM is currently investing its seventh Sino-US fund, which closed at $330 million last year. The firm subsequently launched a separate vehicle that will make follow-on investments in later-stage portfolio companies.
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