China-based social app developer Maimai.cn has secured $20m in series B funding from investors including IDG Capital Partners, a corporate venturing subsidiary of publishing and media group IDG, China Money Network reported yesterday.
Venture capital firm Morningside Ventures led the round. Maimai raised $5m in series A funding from Morningside last year.
Maimai is a chat app for the workplace that finds new contacts for users by analysing current links and social media postings. The platform, which has 800,000 registered users, provides a network for career professionals to develop business social networks.
The new funding will be used for further product development and marketing.
– Image courtesy Maimai.cn