Cathay Capital backs Tungee and 15 more deal updates from Greater China

Tungee, a provider of software-as-a-service (SaaS) for sales and marketing management, has raised 300 million yuan ($47 million) for its Series B+ round of financing led by cross-border private equity major Cathay Capital. 

New investor GGV Capital besides return backers Sequoia Capital China, Qiming Venture Partners and Unity Ventures joined the round. 

Tungee had earlier completed its Series B round raising 120 million yuan ($19 million) from Sequoia Capital China, Qiming Venture Partners and Skycus Capital. 

Proceeds from the new funding are expected to be invested for product innovation, business development and service upgrade. 

Guangzhou-based Tungee has developed a cloud platform that offers intelligent Software-as-a-Services (SaaS) sales solutions covering customer acquisition, business opportunity engagement, and customer relationship management.

As of now, it has served over 10,000 enterprises such as Alibaba Cloud and China Merchants Bank to spruce up digital sales. 

CHINA DEAL MONITOR

DealStreetAsia has also put together a table listing out all prominent venture capital transactions in the Greater China region on December 13 – 15, 2021. 

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