China-based human resources (HR) management software provider Beisen has received $260m in a series F round featuring internet and telecommunications group SoftBank’s Vision Fund 2, DealStreetAsia reported today.
Investment bank Goldman Sachs also took part in the round, alongside financial services and investment group Fidelity International, investment firm Primavera Capital, growth equity firm Genesis Capital and venture capital firms Matrix Partners China, Sequoia Capital China and Shenzhen Capital Group.
Founded in 2002, Beisen operates an online platform called iTalentX which is used by enterprise customers for management HR and recruitment activities. It claims iTalentX is used by more than 150,000 HR professionals and 20 million employees.
The company will use the capital injection for recruitment and product development as well as the improvement of its customer services. It said the series F round represented the largest round so far by a member of the Chinese HR software-as-a-service market.
Beisen had previously secured over $100m for the close of its 2018 series E round, which was co-led by Matrix Partners China and Genesis Capital and backed by Sequoia Capital China.
The company had already raised $28m across its 2013 series B and 2015 series C round, from investors including Sequoia China and Matrix Partners China.