China-based customer relation management (CRM) software provider Xiaoshouyi has secured RMB280m ($40.5m) in a series D round led by internet group Tencent, China Money Network has reported.
Venture capital firm Sequoia Capital also participated in the round, as did VC funds Matrix Partners China and Zhen Fund.
Xiaoshouyi, which is operated by parent company Renke Interactive Network Technology, has built a CRM offering similar to that provided by Salesforce.com, allowing salespeople to identify, store and manage leads and assess their effectiveness.
Like Salesforce, Xiaoshouyi also allows apps or services to be developed on top of the platform. The software is used in the media, financial services, education, home improvement and healthcare industries.
The series D capital will support research and development activities and the strengthening of the company’s platform.
Sequoia, Matrix Partners and Zhen Fund had previously invested $15m in Xiaoshouyi in 2015, before Matrix led a $14m series C+ round in April 2016, according to China Money Network.