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Internet Startup Fxiaoke Raises $100 Million from Investors
   2015-07-06 16:06:06    CRIENGLISH.com/China Daily      Web Editor: Xu

Chinese Internet startup "fxiaoke.com" celebrates their success in D round of financing from IDG Capital Partners, DCM and Northern Light Venture Capital on Wednesday, July 1, 2015. [Photo: CRIENGLISH.com]

Chinese Internet startup "fxiaoke.com" has recently announced it raised 100 million US dollars from investors in its latest round of fundraising.

This is the fourth round of financing for this mobile sales management tool provider, according to a company announcement.

Luo Xu, the founder and CEO of fxiaoke.com, explains the money his company has raised from IDG Capital Partners, DCM and Northern Light Venture Capital, will be used to fully develop its app capacity as a mobile terminal, as well as the capacity of saving data and application.

The final goal of making all these endeavors is to help Chinese companies better connect with customers, employees, products and distributors.

Founded in December 2011, FXiaoKe provides management software tools for sales teams of Chinese companies.

Software as a service, or SaaS, is a licensing and distribution model in which software is licensed on a subscription basis and is centrally hosted.

Unlike the United States where 32 SaaS companies have gone public and each is valued at more than 1 billion US dollars, there is no big SaaS provider in China.

"Fxiaoke.com" supports field operation management, distribution chain management, customer relationship management.

This year, the number of its employees has grown to 1000 from less than 50 at the beginning of 2015. Fxiaoke has also opened branches in Shanghai, Guangzhou, Shenzhen and Hangzhou. It has over 110,000 enterprise-level registered users.

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