On May 11, China's largest integrated HR SaaS and talent management platform, Beisen, announced the completion of a Series F financing of USD 260 million.
The round was co-invested by Softbank Vision Fund II, Goldman Sachs, Spring Capital, and Fidelity International, with additional investment from old shareholders Matrix Partners China, Sequoia Capital China Fund, Yuan Sheng Capital and Deep Venture Capital. China Renaissance served as the exclusive financial advisor for this financing round.
Beisen's financing scale is the largest one in the HR SaaS sector so far. After this round, Beisen also will carry on in its leading position as the beneficiary of the largest financing scale and highest valuation in this industry. This financing round will be mainly used for integrated HR SaaS product innovation, customer success system improvement, organization and talent construction.
Along with the increasingly competitive markets in China, Beisen has faced challenges to outcompete other major players. The intense competition urges enterprises to refine their management and achieve high-quality development. At the same time, the HR SaaS industry is also experiencing explosive growth.
As a leading company in the industry, Beisen especially focuses on developing human resource digital management by upholding the principle of 'integration x low code'. This approach brings a unique value to strengthen the company’s human resource management. Furthermore, it solves the strong demand of enterprises for HR software integration and customization development. According to the IDC research, it shows that Beisen has officially surpassed traditional international software majors since 2016. The company has now become the leader in China's HR SaaS market and has been ranked first in this industry for five consecutive years.