China-based business intelligence software provider Youhualin has raised RMB100m ($15.5m) in series B funding from a consortium including construction firm Zhongnan Group’s corporate venturing unit, Zhongnan Capital, DealStreetAsia reported yesterday.
The round was led by venture capital firm 5Y Capital and also featured FOF Hengxu Capital, vehicle for carmaker SAIC, as well as private equity firm Before Capital.
Youhualin produces software that uses data to inform organisational decisions. The capital will go to technology development and increasing headcount.
The company had previously raised $4.6m in series A funding from Qianhai FOF, Zhengxuan Investment and Ally Capital in 2017, according to DealStreetAsia.
