Tiger Global leads $43m Series C in Chinese outsourcing platform Udesk

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Udesk, a Beijing-based customer service outsourcing platform, has secured RMB 300 million yuan ($43 million) in a Series C round led by Tiger Global Management, the company announced via its WeChat account on Friday.

Existing investors, US venture capital firm DCM Ventures and Chinese corporate venture capital firm Legend Capital, also joined this round.

The latest round brings the company’s total funding to date to $66.4 million. It will spend most of the proceeds in developing technology that will help companies engage with customers more efficiently at a lower operating cost.

Previously, Udesk raised RMB 100 million ($14.5 million) in series B financing round from Legend Capital and DCM after grabbing RMB 30 million ($4.4 million) series A+ round from Legend Capital and $3 million in series A round from DCM in 2015.

It claims on the website that it has over 70,000 registered users as of September 2017. Its registered enterprises include Starbucks, 58 City and Procter & Gamble.

Tiger Global Management is an investment house that deploys capital globally with a focus on the global internet, software, financial technology, consumer and industrial sectors.

Spotify, JD.com, Facebook, LinkedIn, Ola and Flipkart are parts of its investment portfolio.

Founded in 2001, Tiger Global Management is based in New York with affiliate offices in Hong Kong, Singapore, Bangalore and Melbourne.

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