Shanghai AroundDeal Information Technology Co., Ltd. (Short for AroundDeal) recently announced the successful completion of a Pre-A round financing of CNY tens of millions. The funds raised in this round will be utilized for product research and development as well as market promotion.
AroundDeal was established in 2020 as a global business information SaaS platform. Leveraging AI and data technology, the company provides commercial information services to Chinese B2B enterprises expanding internationally, as well as B2B companies in emerging overseas markets.
The official website of AroundDeal states that the company focuses on delivering extensive business information, including data on billions of companies, corporate contacts, and commercial intelligence, covering over 249 countries and regions and more than 10,000 industry segments. By continuously updating and validating data, AroundDeal assists over 100,000 global users in achieving precise marketing strategies and finding the most efficient paths for global expansion.
With the ongoing migration and reconfiguration of value chains and supply chains among different countries and regions, the rapid development of the digital economy has greatly impacted marketing approaches and supply-demand relationships. Chinese SaaS companies are no longer content with being solely backend suppliers participating in globalization. Instead, they are increasingly emerging as independent brands, directly engaging with customers and consumers on a global scale.
In recent years, an increasing number of Chinese SaaS companies have turned their attention to overseas markets. While the SaaS market in Europe and the United States is highly mature, with a strong willingness among local customers to pay, it also faces competition from established giants who have dominated the market for many years. On the other hand, emerging markets such as Southeast Asia offer faster growth rates and immense potential, although customers in these markets generally exhibit a lower willingness to pay, requiring significant efforts in market education.
For SaaS companies, venturing into overseas markets as a new growth strategy entails numerous challenges associated with different global markets. Faced with issues such as valuation depreciation, poor customer repurchase rates, and weak monetization capabilities, Chinese SaaS companies are actively seeking new avenues for growth. According to data from iResearch, although the SaaS industry has experienced a slowdown in recent years, the market size continues to expand. The global SaaS software services market is projected to reach CNY 102.7 billion by 2023.
Over the past decade, China has witnessed the emergence of a group of notable SaaS companies, including Jinyun Information（甄云科技）, AfterShip,FineReport（帆软数据）, YouCloud（有米云）, Xiaoman Technology（小满科技）, CLOUD HELIOS（汇联易）, NXCLOUD（牛信云）, Dmall, and Wondershare（万兴科技）among others. Some of these enterprises have targeted overseas customers from their inception, while others have refined their products in the domestic market before leveraging their experience to explore a "second growth curve" overseas.
In this round of financing, AroundDeal has secured investment from Chengwei Capital（成为资本）. The funds raised will be further allocated towards product research and development, as well as market promotion endeavors.