IDG Capital, the corporate venturing arm of technology media and research firm IDG, has led an undisclosed series B round of investment in Facishare Technology, the first company in China to launch enterprise socialization software for sales management, according to PEChina Daily/Kualiliyu.com. Reports from China-based enterprise social networking (ESN) trade sites have said that IDG invested in a series A round in Facishare last year, however, the financial details were not made public.
Founded in 2011, the company specialises in software designed to help sales teams to manage sales behaviour, sales processes, CRM customer resource and sales synergy. Its main target customers are SMEs or sales teams of large companies.
According to a blog written by Takamitsu Nakao, the chief executive officer of China-based Anhui OSS, a company that provides Android apps and Weibo style enterprise social networking product, the ESN market is becoming ‘gradually hot in China’.
Nakao cited in a blog article that a report by CCW Research, stated that the market scale of ESN increased 246% compared to the previous year in 2012. He said that research reports are suggesting that in 2013 China will experience ‘dramatic growth’ in the ESN segment.