China-based human resources management platform developer eRoad Software obtained RMB200m ($29m) in series C1 funding today led by quantitative trading and technology firm Susquehanna International Group.
Hillhouse Capital also participated in the round. The corporate invested through its regional corporate venturing subsidiary, SIG Asia Investments.
Founded in 2004, eRoad Software has developed a cloud-based platform that facilitates human resources management for medium and large-sized enterprises, handling functionality such as payroll, tax and benefits.
The platform includes a library of tax policies, social insurance regulations and public housing funds in more than 480 cities across China. The company relies on artificial intelligence to offer real-time compensation analyses.
The platform has attracted some 1,000 enterprise clients across more than 20 countries, and will use the series C1 capital to further develop its products and services.
The company previously raised an undisclosed amount of series B funding from Hillhouse Capital in September 2018, after completing a seven-figure series A-plus round led by Hanghzhou Shenghui Investment in 2017.
Future Land Development reportedly supplied an undisclosed amount of series A funding in 2016.
