RYS Secures Tens of Mn CNY in B+ Round Financing

Technology Author: Xin Zeng, Yiran Xing Aug 08, 2023 01:18 PM (GMT+8)

RYS(Chinese:融易算) secured tens of millions CNY in B+ round financing,On Aug 6, 2023. The investor is LPSCO's Linzhuo Fund. This round of financing will be used for the iteration of AI intelligent products and the innovation of SAAS product services for the entire life cycle of small and medium-sized enterprises.

Established in 2018, Beijing RongYi Suan Technology Co., Ltd., headquartered in Beijing, is a SaaS cloud service provider focused on the enterprise services field. It provides a new generation of intelligent financial and tax SaaS cloud service solutions to ecological partners, builds a digitized operating system supported by a data middle platform, helps small and medium-sized enterprises reduce costs and increase efficiency, and promotes the digitization, visualization, and intelligent upgrading of enterprise finance and tax operations.

RYS has already established products and services targeting these two major groups. Founder Shangguan Chunmei said, "RYS has maintained a healthy cash flow and sustained rapid growth in recent years. Last year's performance grew by 120%, achieving a balance between revenue and expenditure. It is expected that this year's growth will continue to exceed 50%."

According to the "Insights into the SAAS Industry Trends" report, as the digitalization process continues to advance and is influenced by the pandemic, the global cloud computing market is undergoing rapid and systematic changes. In 2021, in the gradual recovery in the post-pandemic era, the world has ushered in a new wave of digital transformation, and the global cloud computing market reached USD 544.9 billion, with a growth rate of 24.6%. By the end of 2022, the global cloud computing market is expected to reach $669.2 billion, and it is projected to surpass the USD 800 billion mark by 2023. Currently, the global cloud computing market is still dominated by public clouds, accounting for about 70% of the market share, while private clouds and hybrid clouds occupy a smaller market share.

As of now, RYS covers more than 260 cities nationwide and aims to expand into Southeast Asian markets. It serves over 180,000 enterprise users. RYS's characteristic lies in its entry point into the e-commerce incremental market. It has established deep cooperation with domestic mainstream e-commerce platforms and directly provides services to small and medium-sized enterprises in the ecosystem through its SaaS service platform. Additionally, RYS places a strong emphasis on service delivery in the backend, ensuring a more comprehensive and controllable delivery chain.

Leading SaaS financial platforms in China include Yonyou Cloud Finance, Kingdee Cloud Finance, and Yonyou U8 Finance, among others. Overseas platforms include QuickBooks Online, Xero, and NetSuite.

After this round of financing, RYS will focus on expanding industry-level cooperation, continuing to expand market coverage, and leveraging the resources of its headquarters to facilitate the rapid development of its nationwide business. RYS will also refine its customer service according to industries, such as providing industry-specific solutions for e-commerce and technology companies, to further focus and deepen its industry presence.