China-based collaboration tool producer Teambition has closed a $12m series B round featuring Microsoft Ventures, the accelerator programme of software company Microsoft, China Money Network reported today.
The round was led by Northern Light Venture Capital and also included IDG Capital Partners, the local investment affiliate of media and technology research firm International Data Group, and Vangoo Investments.
Launched in 2013, Teambition offers a range of cloud-based collaboration and project management tools. The products are currently available in five languages, and the company offers its services in five cities across China.
IDG Capital Partners and Vangoo previously backed a $5m series A round in December 2014.
Founded in 2013, Teambition completed US$5 million series A round from IDG and Vangoo in December 2014. Gobi Partners previously invested in an undisclosed seed round.
Teambition graduated from Microsoft Ventures in Beijing in January 2015.