German media group Bertelsmann is closing in on a series B round of funding alongside venture capital firm Sequoia Capital for China-based Dayima, a menstruation period tracking app, according to a report by technology news site, Technode. The deal is worth tens of millions of dollars, however, the financial details were not specified.
Dayima predicts period cycles based on past patterns. It also provides users with health tips on avoiding cramps and pre-menstrual syndromes, and links to online forum where users can exchange their experiences. The app has recorded 18 million registered users and 1.9 million daily active users since its launch in January 2012.
The capital will be allocated to hiring more staff for its technology team as well as people with professional gynecological knowledge. Money will also be allocated to marketing and branding campaigns.
Cai Wensheng, chairman of photo-centered app Meitu, invested millions of yuan in a series A round, according to Technode reports. The investment was strategic to combine the apps and target the same group of customers. Sequoia Capital hopes to integrate Dayima with other female-targeted services it invested in previously, Lefeng, Meilishuo, and Jumei.