China-based office services outsourcing company 51Shebao has secured $10m in a series B round led by professional services provider Zhubajie, China Money Network reported on Friday.
The round also included private equity firm China Broadband Capital, according to a press release which also stated the money was raised in May this year.
Founded in 2014, 51Shebao runs a service that helps businesses outsource their human relations and social security operations. Zhubajie will look to incorporate the startup’s product offering into its own, more wide-ranging services.
The funding comes after 51Shebao raised $4m in 2015, and will be used to support product development and the expansion of its team.