The total revenue in 2021 of the company jumped 600% year on year, 50% of which came from the oversea market.
Suzhou AuditoryWorks (Chinese: 蛙声科技), a video conferencing device provider in China, announced its Series B funding round worth hundreds of millions of CNY, led by GP Capital, existing shareholders iVision Ventures, GGV Capital, and Starlight Capital also participated in the round, news portal 36kr.com reported.
Millennium Capital Partners acted as an exclusive financial advisor in this round. The money will be used for product development and iteration and to launch more differentiated hardware and software products and innovative conference solutions.
Dr Xin Xin, the Founder and CEO of AuditoryWorks, said that the company's business focused on three aspects in the past year. The first aspect is expanding the sales channel for the offline market, and at present, it has established strategic cooperation with Digital China, the most prominent IT distributor in China.
The second aspect is expanding the oversea offline market. The company has made good progress in North American and European channels, and the next step is to target Australia, Japan and other developed countries to expand agents. Xin mentioned that the overseas market would be the business with a higher proportion of the company's future revenue.
Last is the online market, mainly for consumer and Server Message Block (SMB) products. The company plans to launch at least 20 products every year.
According to the average monthly transaction volume of a single product in the industry of USD 100,000 to 200,000, the company is expected to be able to compete with Anker in some sub-tracks of Collaboration soon.
The company's competitors include Huawei Cloud (Chinese: 华为云), Yealink (亿联网络), Cisco, and Anker.