CMC Capital, and HG Capital participated in a $26 million investment round in social media content ranking platform Newrank, while China’s National SMEs Fund led an $18 million funding round in business data and investigation platform Tianyancha.
CMC, HG Capital join $26m round in Newrank
Fortune Capital also joined the round, the China Money Network reported. CMC is a Chinese investment firm focused on the media and culture sector, while HG is a Chinese private equity firm.
Founded in 2014, Newrank does ranking services for content published on Chinese media platforms, even covering consumption of content by users on WeChat official accounts and Weibo accounts.
Newrank plans to use the proceeds to improve its products and establish a new office in Shenzhen, the report added.
The startup, as of February 2017, monitors over 10 million WeChat official accounts, overseeing daily activities of over 350,000 high-quality accounts, covering 20 sectors and 30 cities.
Among its other partners are personalized news app Toutiao, video platform iQiyi.com and Youku Tudou and distribute its rankings and data.
Newrank in 2015 raised a $2 million series A round from SkyChee Ventures, and afterwards raised an undisclosed sum in the series A+ round from Zhen Fund, Banyan Capital and Weiying Capital.
National SMEs Fund leads $18 series A in Tianyancha
Tianyancha, a Beijing-based business data and investigation platform, raised $18 million in a series A round led by China’s National Small and Medium-size Enterprises Development Fund, a direct investment vehicle of the National SMEs Development Fund.
The deal served as the fund’s first investment, CMN noted. It is the second direct investment vehicle launched in December 2016 by the National SMEs Development Fund, and managed by Tsinghua Holdings’ THG Ventures.
Tianyancha was launched in March 2016 by its startup developer Beijing Jindi Technology Co Ltd, which was established in 2014. The company plans to use the latest proceeds to expand its business and cooperation with other partners.
Tianyancha is designed to enable users to search for a company’s details and board members relationship, including company background, company development, operating risks, and intellectual property.
The platform now has over 120 million companies on its list.
Beijing Jindi Technology previously raised $3 million angel round from Chinese venture firm Tengye Ventures in 2015.
National SMEs Development Fund is a $9.4 billion fund launched in 2015 focused on innovative, early stage technology companies.
A Shenzhen-based vehicle served as its first direct investment fund last January, and secured $870 million in total capital commitments, of which it secured $220 million each from the central government, and the Shenzhen municipal government.