China-based LMBang, a social networking site and mobile phone application targeted towards mothers, has raised $20m in its series B round, according to technology blog 36kr.
E-commerce company VIPShop was joined in the round by investment firm Greenwoods Asset Management, venture capital firms Morningside Ventures and Matrix Partners, and VC fund K2 Ventures.
Launched in 2012, LMBang, which operates as both a website and an app, acts as a message board for mothers and a woman’s health website, and has 12 million registered users. It will use the capital to hire additional staff.
LMBang raised $10m in a 2013 series A round from Morningside, K2 and Matrix Partners.