Tungee, China-based sales technology developer backed by internet group Alibaba, has raised a RMB120m ($17.2m) series B round, DealStreetAsia reported today.
Sequoia Capital China led the round, which included fellow venture capital firm Qiming Venture Partners.
Founded in 2016, Tungee has developed a big data and artificial intelligence-powered customer engagement and management platform. The technology leverages machine learning and natural language processing to help companies automate sales.
The fresh funding will be used to boost the company’s research and development efforts and increase the brand’s market presence.
Qiming Venture Partners had already backed the company’s eight-figure renminbi (RMB10m = $1.4m at the time) series A round in 2018, investing alongside Alibaba.
Tungee had secured a pre-series A round of undisclosed sum in 2017 which came in the wake of an angel round of undisclosed size the year before. In addition, the company’s website lists investment firms Unity Ventures and Innoangel Fund as its previous backers.
