Tungee Secures $17 Million to Build SaaS Platform Ecosystem

By Apac CIO Outlook | Wednesday, August 26, 2020

Tungee is a professional, intelligent sales solution provider, devoted to helping enterprises to improve sales efficiency with big data and AI technology.

Fremont, CA: Tungee, a leading sales intelligence SaaS company, raised RMB 120 million ($17 million) Series B financing led by Sequoia Capital China, and with participation from Qiming Venture Partners. Tungee commits deeply in providing sales intelligence SaaS services, providing the Chinese sales intelligence SaaS service market with a complete product offering and enterprise service ecology.

Founded in 2016 and headquartered in Guangzhou, Tungee has built the most extensive and precise 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, the company has developed a complete closed-loop sales intelligence SaaS platform that covers from leads generation to customer management. Its 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 JiaZhai, Managing Director of Sequoia Capital China.

Li Zhan, founder and CEO of Tungee, said, "This fund will be used to strengthen infrastructure, attract talents, and consolidate competitive advantage." The company will also build a complete SaaS platform ecosystem based on the corporate database and AI capabilities, continue to empower B2B enterprises, and open a new era of sales intelligence SaaS.