Tungee Announced the Completion of an RMB 120 Million Series B Financing
GUANGZHOU, China, Aug. 5, 2020 /PRNewswire/ -- Tungee, a leading sales intelligence SaaS company, announced the completion of an RMB 120 million(~$17 million) Series B financing led by Sequoia Capital China, and also with participation of Qiming Venture Partners. Similar to Zoominfo, the B2B intelligence database from the U.S., Tungee commits deeply in providing sales intelligence SaaS services, providing the Chinese sales intelligence SaaS service market with a complete product offerings and enterprise service ecology.
Founded in 2016 and headquartered in Guangzhou, Tungee previously raised Series A financing co-invested by Alibaba and Qiming Venture Partners. Tungee has built the most comprehensive and accurate enterprise database in China, covering more than 100 million entities, with over 10,000 data dimensions and more than 100 million web pages crawled and updated daily. Building upon its database, Tungee has created a complete closed-loop sales intelligence SaaS platform that covers from leads generation to customer management, with specific products including Tungee Outbound SaaS, Tungee Inbound SaaS, Tungee Engage SaaS, Tungee CRM, etc.
"The B2B market plays an increasingly important role in the development of the Chinese market. Since the traditional B2B marketing model has been difficult to achieve breakthroughs, companies will pay more attention to the new opportunities brought by sales intelligence. Especially with the continuous increase of unclassified Chinese enterprise data and the rapid development of AI technology, the scenario-specific application of data intelligence in the B2B market will become more and more popular. Tungee is currently a leader of this field in China, and we are very optimistic about its future prospects," said Jia Zhai, Managing Director of Sequoia Capital China.
Li Zhan, the founder and CEO of Tungee, is a young entrepreneur who was elected to Forbes "30 Under 30 Asia"list in 2019. Li Zhan said, "This fund will be used to strengthen infrastructure, attract talents, and consolidate competitive advantage." In addition, Tungee will build a further complete SaaS platform ecosystem based on corporate database and AI capabilities, continue to empower B2B enterprises, and open a new era of sales intelligence SaaS.
Tungee is a professional intelligent sales solution provider, devoted to helping enterprises to fully improve sales efficiency with big data and AI technology. By continuously exploring and analyzing the entire web network, Tungee has constructed a unique corporate database that covers 100 million enterprises on the internet. It provides a comprehensive sales intelligence solution for B2B enterprises and the services range from leads mining, business opportunity engagement, customer relationship management to order analysis by combining AI technologies, such as NLP, and machine learning algorithm. It also helps B2B enterprises solve the sales problems they face in identifying, contacting and managing customers, so that enterprises may efficiently gain accurate sales leads, reduce the customer acquisition cost and further improve the sales efficiency and performance.