Internet startup fxiaoke.com announced that it has gathered $100 million from investors for the website's latest fundraiser.
The announcement released by the company revealed that this is the fourth time the startup has raised funds to finance the mobile sales management tool provider.
CEO and founder Luo Xu stated that the money collected by his company from IDG Capital Partners, DCM and Northern Light Venture Capital will be used for financing the full development of the app's capability to become a mobile terminal, and for the support to its capacity to save the data and application.
It is the company's intent to help Chinese businesses connect to customers, employees, products, and distributors in a better way.
Fxiaoke, founded in Dec. 2011, is a company that offers management software tools to sales teams in companies all over China.
Software as a Service (SaaS) is a centrally hosted, licensing and distribution model, in which a software is licensed on a subscription basis.
The United States has 32 SaaS companies that have gone public, with each company valued at more than $1 billion, whereas China does not have any SaaS provider.
Fxiaoke.com supports all field operation management, distribution chain management, and customer relationship management.
The number of the company's employees has grown to 1,000, far from the original 50 employees in the beginning of 2015.
Fxiaoke also has offices in Shanghai, Guangzhou, Shenzhen and Hangzhou, with over 111,000 registered users at the enterprise level.