Acewill Funding, Investors & Competitors

Acewill has raised $145M across 4 funding rounds, most recently a $81M strategic investment round in May 2023.

Last Acewill funding round

$81M

Strategic investment · May 2023

Cumulative funding Acewill raised

$145M

across 4 funding rounds

Key investors in Acewill

Acewill Overview

About Acewill

Acewill is a Shenzhen-based SaaS provider offering restaurant management software for the catering industry. Its cloud platform handles POS, inventory, CRM, and delivery integrations, serving over 10,000 outlets in China since 2010. Acewill supports chains like Haidilao with features for order processing and data analytics across WeChat and Alipay payments.


Founded

2006

HQ

ChinaBeijing

Website

acewill.cn

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Acewill Funding History

Acewill has raised a total of $145M across 4 funding rounds.

Acewill's first fundraising round was a $7M Series A in December 2014. The most recent completed round was a $81M strategic investment round in May 2023.

Acewill funding rounds

Acewill funding rounds
DateStageInvestorsRaisedDeal Summary
May 2023Strategic investmentWeimob (lead)$81MAcewill is a SaaS company, likely focused on software services given the comparable company valuation method using EV/Revenue ratios of listed SaaS peers. On May 8, 2023, Weimob Development, a subsidiary of Weimob Inc., invested in Acewill through a combination of RMB20 million cash and transfer of 100% equity in Weimob Canlin valued at RMB550 million, subscribing for new registered capital of RMB12,449,053.74 initially referenced, with the disposal consideration involving issuance of RMB12,012,244.84 in new capital corresponding to 24.7748% equity interest post-investment. This implies a post-money valuation of approximately RMB562.47 million for Acewill, determined via arm's length negotiations based on an EV/Revenue ratio of around 11.00x, matching the average for Mainland China and Hong Kong listed SaaS companies per Bloomberg data as of April 20, 2023, alongside Acewill's prior round post-money valuation and business prospects. The investment positions Acewill as an associate of Weimob Inc. following completion, with Weimob Canlin ceasing to be a subsidiary after the equity transfer. Weimob Inc., the parent, separately reported its own group revenue of RMB2,228 million for 2023, up 21.1% year-over-year, with improved gross profit margins to 66.6%, but these metrics pertain to Weimob, not Acewill. The deal reflects strategic consolidation or growth in the SaaS ecosystem, leveraging Weimob's resources for Acewill amid a market where SaaS valuations averaged 11x EV/Revenue in early 2023.
Mar 2018Series CMeituan (lead); HSG$32M-
Jun 2015Series BMeituan; HSG$26M-
Dec 2014Series AHSG (lead)$7M-

Who has invested in Acewill?

3 investors have backed Acewill across its funding rounds, including HSG, Meituan and Weimob.

Lead investors include Weimob, Meituan and HSG.


Acewill Investors

Investors in Acewill by funding rounds participated
InvestorHQRoundsRoleFirst check
HSGHong KongHong Kong3LeadDec 2014

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Acquisitions by Acewill

Acewill has acquired 1 company to date.

Last acquisition by Acewill was on December 13th 2017. Acewill acquired TzxStar for $8M.


Latest Acquisitions by Acewill

TzxStar
Description
TzxStar is a Shanghai-based platform aggregating catering and restaurant data services. The company offers online directories, booking systems, and supply chain information for foodservice operators in China.
HQ CountryChina
HQ City
Beijing
Deal Date13 Dec 2017
Valuation$8M
EV/Revenue
EV/EBITDA

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Investments by Acewill

Acewill has invested in 2 companies to date.

Latest investment by Acewill was on January 25th 2016. Acewill invested in Huami in their $500K Angel round.


Latest Investments by Acewill

Huami
Hongcan Wang
Description
Huami delivers data services through software products like intelligent cloud supervision, cloud monitoring, e-learning platforms, and SDK middleware, while redeveloping enterprise and user behavior data into decision-support databases at huami-tech.com.
Hongcan Wang is a China-based digital platform for the catering industry facilitating professional communication and knowledge exchange. Features encompass forums for restaurant managers, recipe sharing sections for chefs, supplier directories, and webinars on food safety regulations. The site connects operators from fast-food chains to high-end hotels across provinces like Guangdong and Shandong.
HQ CountryChinaChina
HQ City
Shanghai
Guangzhou
Deal Date25 Jan 20161 Dec 2015
RoundAngelSeries A
Raised$500K$2M
Investors--
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Acewill Competitors

Acewill competitors include listed companies like Constellation Software and SS&C Technologies, and private ones like Owner, Delightree, Rippling and The Deployment Company.

Public and private companies comparable to Acewill
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
OwnerUnited StatesSan Francisco, CAPrivate$100M-$2.3B23.0x
DelightreeUnited StatesSan Francisco, CAPrivate$4M-$290M72.5x
Constellation SoftwareCanadaCanadaPublicly listed$12B$2.5B$43B3.5x
SS&C TechnologiesUnited StatesUnited StatesPublicly listed$6.3B$2.1B$19B3.9x
RipplingUnited StatesSan Francisco, CAPrivate$570M-$17B29.5x
The Deployment CompanyUnited StatesSan Francisco, CAPrivate--$14B-

Acewill Public Comps

Acewill is still privately-owned, but its public comps include Constellation Software, SS&C Technologies, Topicus, Intapp, RWS Holdings, CS Disco, Hibino, Xp Industrial FII, GetBusy and Valtes Holdings.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Constellation Software$12B$2.5B4.0x3.5x18.5x12.9x
SS&C Technologies$6.3B$2.1B4.2x3.9x12.4x10.0x
Topicus$1.8B$393M3.4x3.0x15.3x10.6x
Intapp$578M($16M)4.6x4.5x(164.3x)20.9x
RWS Holdings$927M($26M)0.7x0.7x(27.2x)4.8x
CS Disco$157M($44M)1.1x1.0x(4.0x)(22.1x)
Hibino$435M$60M0.6x0.6x4.3x-
Xp Industrial FII$9M-10.0x---

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Common questions about Acewill

When was Acewill founded?Acewill was founded in 2006.
Where is Acewill headquartered?Acewill is headquartered in Beijing, China.
Is Acewill publicly listed?No, Acewill is a private, VC-backed company.
How much funding has Acewill raised?Acewill has raised $145M across 4 funding rounds.
What was Acewill's last funding round?Acewill's last funding round was a $81M strategic investment round in May 2023, led by Weimob.
Who are Acewill's investors?Acewill's investors include HSG, Meituan and Weimob.
Which companies are comparable to Acewill?Companies comparable to Acewill include Owner, Delightree, Constellation Software, SS&C Technologies, Rippling and The Deployment Company.
How many companies has Acewill acquired?Acewill has acquired 1 company, including TzxStar.
What was the largest acquisition by Acewill?The $8M acquisition of TzxStar in December 2017 is the largest acquisition Acewill has made to date.
How many companies has Acewill invested in?Acewill has invested in 2 companies, including Huami and Hongcan Wang.
What was Acewill's last investment?In January 2016, Acewill invested in Huami's $500K angel round.

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