Weiling, a collaboration CRM service provider, received CNY 100 Million(USD 14.89 Million) from Series A led by Sky9 Capital.
Weiling Technology (Chinese:卫瓴科技), a provider of collaboration CRM (customer relationship management) service, completed a Series A funding round worth CNY 100 million (USD 14.89 million) on July 13, led by Sky9 Capital, with follow-on investment from Yunqi Partners, Lightspeed China, and existing shareholder Sequoia China, news portal 36kr.com reported.
The funds from the round will be mainly used for product development, market expansion, and team building. This is the third round of financing for Weiling Technology since its establishment in 2020.
Before first contacting a salesperson, users will complete nearly 57% of the entire buying process alone, 90% of B2B buyers will search for keywords online, and 70% of B2B buyers will watch relevant video content online, pointed out by leading consulting firm Roland Berger. Besides, B2B sales is a long chain and complex decision-making process, so how to improve the process efficiency is a problem.
As a response, Weiling refers to "Enterprise WeChat+ Consumer WeChat" as the pivot and creates a business closed loop of "content, contact, and data" to bridge the gap between marketing and sales and ultimately help companies improve conversion rates in the complex B2B sales process. Through WeChat ecological dialogue and an intelligent tagging system, Weiling replaces salesmen to analyze customers’ purchase intentions and provide suggestions through AI analysis for customers.
Weiling has served 400 enterprises focusing on SaaS or high-tech services, such as Shopee, Shopify, Digital China, and 360. Its international competitors include SalesForce and SAP and domestic ones include TurboCRM (Chinese:用友CRM), 800APP CRM (Chinese:八百客), and Zhibang International CRM(Chinese:智邦国际).