E Cheng Technology Completes Its C Round Financing with USD 80 million
E Cheng technology announced that they completed its C round financing with USD 80 million today. This round of financing is led by American light speed venture capital (LSVP)
The human capital digital platform, E Cheng technology, announced the completion of its USD 80 million round C financing today. This round of financing is led by American light speed venture capital (LSVP), sunshine insurance, and followed by old shareholders, light speed China fund, kaihui innovation fund and Schroder Adveq. Light source capital serves as the financial advisor for this round of financing.
ZHOU Youhong, the founder and CEO of E Cheng technology revealed that the new round of financing will be used in accelerating the construction of digital human capital platform, product investment, technology research and development, talent introduction, and to accelerate marketization. In addition, he emphasized that "DHR should be done first this year, and the next step is to focus on the research and development of freelance economic service products".
Currently, E Cheng technology has built a product matrix including E-recruiting, position and salary determination, oracle fusion talent review and organizational diagnosis, and realized the full scenario BOT service from external candidates to internal employees. Besides balance sheet, cash flow statement and income statement, the company also created the CEO's fourth report of talent ROI (return on investment).
Its services include Tencent, Vanke, Greentown, Jinke, Valeo, iFlytek, WeBank and other enterprises. The areas covered include Internet, real estate, finance, automobile, manufacturing, high-tech and other industries to date.
According to ZHOU Youhong, the development of human resource market can be roughly divided into three stages: human resource management, human capital management and digital human capital. The main differentiating conditions are the degree and efficiency of refined management of talents.
E Cheng technology was founded in 2013 and focused on providing one-stop AI recruitment solutions, it is also the first HR TECH enterprise in China to set up an algorithm department and apply artificial intelligence and big data to recruitment solutions.
The company has over 400 employees, including 100 members of the technical product team, and all members of the technical operation team are from BAT. The technical team members are mainly from Baidu phoenix nest (PPC Platform) core algorithm group senior backbone, and the whole product experience team is led by the former Tencent expert product manager, and the core members are from Tencent and Sogou.