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CHINA BRIEF | Alibaba-backed software firm Tungee closes USD 17 million Series B led by Sequoia Capital

Written by Song Jingli Published on 

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Tungee’s more than 3,000 clients include Alibaba, China Mobile, Focus Media, and NetEase.

Sales software provider Tungee has scored RMB 120 million (USD 17 million) in its Series B round led by Sequoia Capital China and joined by Qiming Venture Partners, 36Kr reported on Wednesday.

Tungee was founded in 2016 in Guangzhou, capital of South China’s Guangdong province, and provides a slew of software solutions that help companies manage client relationships, find sales leads, and engage with potential clients in various ways, including AI-enabled phone calls.

The startup’s more than 3,000 clients include Alibaba, China Mobile, Focus Media, and NetEase,according to the company’s website.  Alibaba and Qiming have also been investors in Tungee’s Series A in 2018, according to 36Kr.

Following the Series B round, Tungee will increase spending on R&D and enlarge its product lineup.

36Kr is KrASIA’s parent company.

This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

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