Cybersecurity services provider Qi An Xin has led a RMB400m ($60.4m) series D round for China-based cloud conferencing software developer XYLink, DealStreetAsia has reported.
Investment holding company Shanghai International Group’s Shanghai Guohe Capital also participated in the round, as did private equity firms GP Capital and Dunhong Capital Management.
Spun off by cybersecurity software producer Qihoo360 and also known as Xiaoyu Link, XYLink has developed online conferencing software that utilises artificial intelligence and cloud computing technology. It intends to allocate the funding to product and technology development.
ZhenFund and Zhen Cheng Capital co-led XYLink’s $18.6m series B round in 2017, investing together with Sinovation Ventures, Lightspeed China Partners and Chengwei Capital.
Internet group Tencent provided a nine-figure amount (RMB100m = $14.8m) of series C funding for XYLink in April 2019, and currently holds an 11.3% stake in the company.
Company founder Xingguo Zhao remains Qi An Xin’s largest shareholder, with a 17.5% share. Its other notable investors include Lightspeed China Partners (8%), Sinovation Ventures (7.7%), ZhenFund (1.3%) and Shanghai Guohe Capital (1%).
