Tencent Pumps USD16 Million Into CRM Software Provider Xiaoshouyi

Tencent Pumps USD16 Million Into CRM Software Provider Xiaoshouyi

Tang Shihua

Date: Tue, 04/03/2018 - 15:23 / source:Yicai
Tencent Pumps USD16 Million Into CRM Software Provider Xiaoshouyi
Tencent Pumps USD16 Million Into CRM Software Provider Xiaoshouyi

(Yicai Global) April 3 -- IngageApp Inc., the firm behind Chinese customer relationship management software Xiaoshouyi, has obtained CNY100 million (USD16 million) in D+ funding from China’s largest tech firm Tencent Holdings Ltd. as it looks to expand its team and products to serve bigger clients.

Shenzhen-based Tencent also led the firm’s CNY280 million D-round in January 2017, online news outlet Lieyun reported. Prior investors include Sequoia Capital and MatrixPartners China.

“Xiaoshouyi will keep enhancing its products, technologies and services to help more traditional firms integrate with the internet,” said its Chief Executive Shi Yanze. “This year, the company will launch new products, such as a marketing cloud and Internet of Things cloud, to help enterprises digitize their processes and reshape the connection between firms and their customers.”

As part of its cooperation with Tencent, Xiaoshouyi fully integrated with its social media platform WeChat, China’s largest, in January. It uses the app to connect its customers and partners more quickly.

To help companies better manage the user life cycle, Xiaoshouyi opened its partner cloud and service cloud last year, connecting distributors, users and late-stage services. In January, it began a smart analytics cloud to make these links more efficient.

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Keywords: FINANCING, TENCENT, CRM, Xiaoshouyi