Yitiao, a China-based online video producer backed by technology and trading firm Susquehanna International Group (SIG), has received $40m in series C funding, Asian Venture Capital Journal reported on Friday.
Investment firm China Broadband Capital and private equity firm Ocean Link co-led the round, participating alongside undisclosed existing investors.
Yitiao’s core offering revolves around its production of lifestyle-themed online videos intended to be viewed and shared across multiple platforms. It launched an e-commerce offering in May 2016.
The company’s earlier funding came from SIG’s local investment subsidiary, SIG China, as well as growth equity firm TrustBridge Partners and venture capital and private equity firm China Media Capital (CMC), according to AVCJ.
CMC led Yitiao’s last round, a $15m series B+ in July 2016, according to China Money Network, after SIG China Fund had led a series B round of undisclosed size for the company that closed in December 2015.