Gridsum Technology, a China-based provider of online marketing analysis services, has raised an undisclosed amount in its series A round, led by Steamboat Ventures, the corporate venturing unit of New York-listed media group Walt Disney.
The investment will accelerate the distribution of Gridsum’s products and services, which are used by Microsoft, Coca-Cola, Lancôme, Shanghai Media Group and China Central Television, in China, the US and other markets.
Last year, iCrossing, an internet marketing unit of media group Hearst, distributed Gridsum’s technology while Microsoft has worked with the company through its Bizspark One programme.
Guosheng Qi, founder and chief executive of Gridsum, said: "With strong support from the Microsoft and iCrossing partnerships, and now a significant investment by Steamboat Ventures, Gridsum will continue to accelerate its global expansion."
Perry Chui, an executive at Steamboat Ventures, said: "Gridsum’s game-changing solutions are providing companies of all sizes with a proven model that will help them optimize their sales and marketing strategies in today’s increasingly fragmented environment. "
Perry Chui and his Steamboat’s partner Alex Hartigan will join Gridsum’s board.