Tezign, a China-based creative marketing services provider backed by media group Hearst and internet and telecommunications group Softbank, has raised $40m in series D funding, Bloomberg has reported.
Singapore state-owned investment firm Temasek led what was described as the first tranche of a series D round, investing alongside unnamed others at a valuation of over $1bn.
Founded in 2015, Tezign provides creative marketing services for medium-sized and large companies, counting the likes of online retailer Alibaba and consumer products conglomerate Unilever among its clients. The funding will be used to enhance its sales and technology capabilities.
Temasek-led the company’s series C2 round in March this year, reportedly increasing its overall series C funding to $100m.
SoftBank vehicle SoftBank China Venture Capital and Hearst’s corporate venturing unit, Hearst Ventures, also took part in the second close, as did Sequoia Capital China, Linear Capital, Eminence Capital, C Ventures, Unicorn Capital Partners and Cherubic Ventures.
Sequoia China had led a series C1 round of undisclosed size round for the company in August 2020 that also featured Hearst Ventures, Eminance Ventures, Cherubic Ventures, Linear Capital and undisclosed other backers.
Tezign had raised an undisclosed amount in a 2018 series B round led by Hearst Ventures that included Linear Capital and Sequoia China, both having backed an eight-figure renminbi round (RMB10m = $1.54m) round in 2016 that also featured Fenghou Capital.
Linear Capital, China Growth Capital and Cherubic Ventures had previously supplied a seven-digit renminbi amount for the company in 2014.
