China-based cloud communications software developer Ucpaas has raised RMB300m ($45m) in a series B round that included business communication technology provider M800, China Money Network reported today.
Investment firm Mangrove Capital led the round, which also featured Legend Capital, the venture capital firm established by conglomerate Legend Holdings.
Ucpaas has created a cloud communication platform that powers online video and audio conferencing as well as call centres and online customer service operations. It claims to have more than 90,000 software developers as users.
The funding will support the company’s development of an open-source communications platform, an internet-of-things platform for developers of connected hardware products and an online customer service platform for small and medium-sized businesses.
Legend Capital had previously led an April 2015 round for Ucpaas that was sized at about $16m, and which included VC firm Chengwei Ventures.