Jushuitan closes USD100m Series C round led by Goldman Sachs

E-commerce SaaS ERP service provider Jushuitan Network Technology announced the completion of a USD100 million series C round of financing led by Goldman Sachs.

E-commerce SaaS ERP service provider Jushuitan Network Technology announced the completion of a USD100 million series C round of financing led by Goldman Sachs.

The Yangtze River Delta Science and Technology Fund under CICC Capital and existing investor Blue Lake Capital also participated in the round, with Taihe Capital serving as the sole financial advisor.

Prior to this, Jushuitan has completed several rounds of financing: in October 2015, it received a RMB15 million pre-A financing round from Ameba Capital and Welight Capital; in December 2016, it obtained a RMB50 millionSeries A round from Wanlu Capital, Ameba Capital and Welight Capital; in November 2018, raised RMB250 million in series B1 and B2 rounds from Vision Plus Capital, Blue Lake Capital and Jiahai Capital; in January 2019, obtained a RMB300 million series B3 round led by Sequoia Capital China.

Established in January 2014, Jushuitan is a Software as a Service (SaaS) enterprise resource planning (ERP) solution provider, covering ordering, purchasing, after-sales, supply chain, and third-party warehousing services, to e-commerce platforms.

Proceeds of the round will be used for upgrading and optimization of product and service systems, creation of a collaborative supply chain, expansion of overseas markets, and investment in the SaaS collaborative ecosystem, according to Luo Haidong, founder and CEO of Jushuitan.

After more than 6 years of development, Jushuitan has expanded its workforce from nine at the beginning of its establishment in 2014 to nearly 2000 as of now. The company has set up more than 60 offline service outlets across China, covering more than 300 cities.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/06/04/jushuitan-closes-usd100m-series-c-round-led-by-goldman-sachs/.

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