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.

Also read:

China Digest: Legend, Tiger back Zhenkunhang; Tencent joins $8m Paystack round

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.