China-based human resources management software provider eRoad Software has secured more than RMB100m ($14.3m) in series C2 funding from investors including quantitative trading firm Susquehanna International Group, citing a company statement.
Logistics and supply chain-focused fund Eastern Bell Capital led the round, which was also backed by Hillhouse Capital, Ivy Capital and GAH. It followed a $29m series C1 round led by Hillhouse in July 2019 that included Susquehanna unit SIG Asia Investments.
ERoad produces software that helps large organisations manage their human resources in areas such as payroll and employee benefits in real time.
The company raised series A funding from property developer Future Land Development in 2016. Hanghzhou Shenghui Investment led a series A-plus round of similarly undisclosed size for eRoad in 2017, and Hillhouse Capital provided series B financing the following year.
