China-based enterprise software producer FXiaoke has raised $70m in series E+ funding from investors including retail chain Beijing Hualian Group, China Money Network reported today.
Hualian, which provided the capital together with Li Yue Venture Capital, will also form a partnership to offer sales management services to retail suppliers.
FXiaoke began life as a mobile office services provider in 2011 before shifting to a customer relationship management model and ultimately pivoting back to office management software.
The company received an undisclosed amount of series E funding in March 2016 from IDG Capital Partners, media company International Data Group’s local venture capital affiliate, as well as Citic Private Equity Funds Management, Hillhouse Capital, DCM and Northern Light Venture Capital.
IDG Capital has been an investor in FXiaoke since 2012 when it supplied the company with $3m in seed capital. It joined Northern Light, Huaruan Venture Capital and Boya Capital for a $10m series B round in 2014.
DG Capital, DCM and Northern Light provided $50m in a series C round in late 2014, and returned for a $100m series D round in July 2015.