Lixiaoyun, a Chinese B2B SaaS vendor, closed its Series B+ funding round worth hundreds of millions of CNY, led by Telstra Ventures. Founded in 2014, it aims to improve companies’ sales productivity with its whole process SaaS solutions.
Lixiaoyun (Chinese:励销云), a Chinese CRM SaaS provider, harvested hundreds of millions of CNY from its Series B+ funding round, led by Telstra Ventures, with participation from Fortune Capital, Pegasus Capital, and Legend Capital.
Leap Capital served as Lixiaoyun’s exclusive financial advisor for this funding round. The money will flow into R&D, platform construction, and marketing.
Xu Guorong, the founder and CEO of Lixiaoyun, claimed that the firm is devoted to facilitating small and medium-sized enterprises (SMEs) to upgrade their sales productivity through breakthrough innovations, scenario solutions, and its all-in-one platform.
Its products meet the needs of pre-sales, sales, and after-sales processes. With its accumulated industry know-how, Lixiaoyun will deliver more and more precise services.
According to a third-party consultancy, China's SaaS enterprise applications market size is projected to exceed CNY 130 billion (USD 19.4 billion) by 2023, an increase of nearly 38 times from a decade ago. This year marks the beginning of an upcoming boom as investors are increasingly interested in this sector.
The growth of this market will be mainly facilitated by industry digitalization, China’s New Infrastructure Plan, the diminishing dividend of Internet traffic, and offline setbacks caused by the pandemic.
Founded in 2014, Lixiaoyun has expanded its business into thousands of cities in China, serving tens of thousands of companies and millions of salesmen. It has also entered the partner ecosystem of Tencent Cloud, linking with more than 40 million SMEs and over one billion WeChat users.
The company’s competitors include Xiaoke (Chinese:销氪), Yingke (Chinese:赢客), Kelaiyi (Chinese:客来易), Reveal, Salesforce, and Everstage.