In October 2019, the firm completed a Series D round of hundreds of millions of yuan.
The Beijing-based Unified Communications as a Service (UCaaS) provider, Ronglian Yitong, closed a Series F financing, capturing USD 125 million from an investment group led by China's state-owned capital venture capital fund, followed by Edu Fund, Mirae Asset and others.
This is the largest private equity financing so far in the domestic cloud communication field.
The proceeds will be poured into the company's R&D process.
Ronglian Yitong featured as a smart UCaaS solution facilitator, delivering enterprises and government entities with real-time, flexible, non-contact communication solutions. It covers china's bluechip enterprises from various sectors like State Grid Corporation of China, Bank of China, Tencent, JD.com.
The CEO and founder, Mr. Changxun Sun, seems devoted to his mission of increasing his clients' operational efficiency. "We have been developing solutions such as unified communications, cloud contact centers, chat robots," he said.
UCaaS is one of the key applications of cloud. The pandemic significantly accelerates the sector's development, helping them secure brilliant results on the capital market.