The firm, also the only domestic SMM service provider, is another beneficiary of China’s thriving SaaS market
Chinese social media management (SMM) platform KAWO (Chinese: 科握) has closed its nearly USD 10 million Series A financing round led by Tiger Global Management.
Existing backer Sequoia Capital China re-upped their commitments in the new fund after its Pre-A funding.
The corpus raised will be used to support its market expansion, product R&D, and team building, KAWO said.
Founded in 2017, the Shanghai-based startup aims to provide social media management solutions for enterprises to optimize their working procedures.
KAWO has connected with social channels such as WeChat, Sina Weibo, Douyin, and Kuaishou (Chinese: 快手). The company expects to cover other Chinese mainstream social platforms including Xiaohongshu (Chinese: 小红书) and Bilibili (Chinese: 哔哩哔哩) in the future.
The firm claimed on its website that it has served more than 500 international clients from 12 industries, including top brands like Balenciaga, Chaumet, Nike, and Samsung.
KAWO’s founder and CEO Alex Li, an NYU graduate, said the company had spent two years launching the SaaS platform to improve digitalized marketing efficiency.