Xiaoe-tech, a China-based SaaS platform, announced yesterday that it had received hundreds of millions of yuan in a Series C funding round invested by the Internet giant Tencent. According to the company, the newly raised capital will be used to increase the investment in R&D of product and core technology and further improve the service system construction.

At the conference, Fan Xiaoxing, co-founder and COO of Xiaoe-tech, introduced the brand upgrade that Xiaoe-tech now positioned as a digital tool for knowledge paying products and customer services.

Xiaoe-tech was founded in 2016. As the knowledge paying has mingled with many sectors, including education, Xiaoe-tech has created an education system connecting online and offline scenarios to serve customers during the past few years. And the system is based on WeChat, where it enables companies to conduct brand-marketing, product and service delivery, user operation, and monetization.

In December 2019, Xiaoe-tech, as an educational SaaS provider, received 100 million yuan in its Series B round of financing led by the strategic investor TAL Education Group. 

As the COVID-19 spreads since the beginning of 2020, firms from different fields are eyeing online transformation and conducting live-streaming broadcast via Xiaoe-tech, once again promoting Xiaoe-tech’s brand upgrade.

As of October 16th, 2020, Xiaoe-tech has served more than 1.3 million business customers covering 136 sub-industries like education and training, medical health, Internet technology, finance, FMCG, consulting services, advertising media, publishing, etc. All its customers have produced more than 15 million knowledge products reaching 680 million individual customers, and the online transaction flow has exceeded 11 billion yuan.