Existing investors IDG Capital Partners, DCM and Northern Light Venture Capital also participated in the round, the company said in a media briefing. CITIC PE is a unit of CITIC Ltd., China’s largest conglomerate engaged in financial services, real estate and infrastructure, engineering contracting, resources and energy and manufacturing.
FXiaoKe was founded in 2011, and started a provider of sales management software that supported customer relationship management, along with field operation management and distribution chain management.
It later became a software as a service (SaaS) provider of mobile office solutions to Chinese companies. In July, it raised $100 million in series D funding from IDG, DCM and Northern Light Venture Capital. It had earlier raised $50 million in a series C round led by DCM in December 2014.
SaaS is a licensing and distribution model for companies that host software centrally. Such licensing is offered to clients on a subscription basis.
Fxiaoke now has more than a thousand employees, with offices in Shanghai, Guangzhou, Shenzhen and Hangzhou. It claims to have more than 115,000 registered enterprise users.