NeoCRM (Xiaoshouyi), a China-based customer relationship management (CRM) technology provider backed by internet technology group Tencent, has received $70m in funding from undisclosed investors, 36Kr reported on Wednesday.
Founded in 2011 as a subsidiary of CRM software provider Beijing IngageApp Internet Technology, NeoCRM has built an enterprise software platform focusing on business-to-business and business-to-consumer interactions.
Tencent had provided $120m in series E funding for the company in 2019, having also backed a $15.8m series D-plus round the year before and led its $40.5m series D in 2017, investing alongside Sequoia Capital China, Matrix Partners China and ZhenFund.
NeoCRM had raised a nine-digit yuan amount (RMB100m = $15.5m) in a series C-plus round led by Matrix Partners China in 2016.
Matrix Partners China had already led a $15m series C round for the company in 2015, investing alongside Sequoia Capital China, after the latter had provided an undisclosed amount of series B funding the previous year.
Sequoia China had also taken part in a series A round sized at tens of millions of yuan (RMB10m = $1.6m) for NeoCRM in November 2013, four months after Cloud Angel Fund backed an angel round of undisclosed size.
