China-based online event facilitator Huodongxing.com has raised an eight-figure renminbi amount (RMB10m = $1.47m) in a series A+ round featuring internet company Tencent, workspace provider URWork and human resources firm Recruit, China Money Network has reported.
Founded in 2012, Huodongxing has built a software platform that organisations can use to plan, promote and sell tickets to their events online.
The funding will be used by Huodongxing to expand into more cities and strengthen its team, in turn forging partnerships with more than 1,000 companies over the next year.
Tencent will build a bespoke advertising channel for Huodongxing alongside its investment, while URWork will supply venues for events and introduce it to 1,500 small and medium-sized enterprises, and Recruit will help the company move into the Japanese market.
Qualcomm Ventures, the corporate venturing arm of mobile semiconductor maker Qualcomm, took part in series A and B rounds of undisclosed size for Huodongxing in 2011 and 2014 respectively.
Private equity firm SAIF Partners led the series B, which was sized at tens of millions of US dollars, investing together with venture capital firm DCM Ventures. The series A, reported as worth several million US dollars, also included DCM.