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Tungee Announced the Completion of an RMB 120 Million Series B Financing

Tungee, a leading sales intelligence SaaS company, announced the completion of an RMB 120 million(~$17 million) Series B financing led by Sequoia Capital, 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. It 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.

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“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. It 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.

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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.

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