IngageApp Funding, Investors & Competitors

IngageApp has raised $192M across 4 funding rounds, most recently a $120M Series E in September 2019.

Last IngageApp funding round

$120M

Series E · Sep 2019

Cumulative funding IngageApp raised

$192M

across 4 funding rounds

Key investors in IngageApp

IngageApp Overview

About IngageApp

IngageApp is a Beijing-headquartered CRM software provider offering sales force automation and customer engagement tools. Launched in 2011, it delivers SaaS and PaaS platforms integrating marketing, sales, and service processes via mobile and big data features. Recognized as the first Chinese vendor in the 2017 Gartner Magic Quadrant for Sales Force Automation, IngageApp maintains offices nationwide and an R&D center in Silicon Valley.


Founded

2011

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

IngageApp Funding History

IngageApp has raised a total of $192M across 4 funding rounds.

IngageApp's first fundraising round was a $15M Series C in March 2015. The most recent completed round was a $120M Series E in September 2019.

IngageApp funding rounds

IngageApp funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2019Series ETencent (lead)$120MIngageApp, known in China as Xiaoshouyi and operated by Renke Interactive Network Technology or Xiaoshouyi, is a leading customer relationship management (CRM) platform founded in 2011 that leverages mobile social platforms, big data, and WeChat integration to help enterprises connect with customers, sales distributors, and end-users more efficiently. It provides digitized value chain solutions and has secured major clients including ICBC, Shanghai Electric, Lenovo, and the Commercial Bank of China, positioning it as one of China's largest CRM providers by business scale and client base. The company had previously replaced overseas suppliers and achieved breakthroughs in enterprise cooperations before the 2019 funding. On September 5, 2019, IngageApp raised USD 120 million in its Series E funding round, led solely by Tencent as the sole participant, marking the largest single financing event in China's CRM sector at the time and the company's eighth overall round. Tencent had previously invested in earlier rounds, including USD 40 million in January 2017 and CNY 100 million (USD 14 million) in April 2018's D+ round, showing ongoing enthusiasm for CRM to synergize with its WeChat e-commerce ecosystem, cloud, and IoT businesses. Other prior backers include Sequoia Capital China, Matrix Partners China, and ZhenFund. The investment aims to build comprehensive digital solutions bridging internal and external partners, enhancing efficiency in third-party service management amid China's booming e-commerce and digital management needs. Tencent's move follows Alibaba's July 2019 partnership with Salesforce, intensifying competition in the CRM space where local players like IngageApp compete against global entrants.
Apr 2018Series DTencent (lead)$16MIngageApp, also known as Xiaoshouyi, is a Beijing-based CRM software provider founded in 2011 that leverages mobile social platforms, big data, AI, and IoT to help sales teams find customers, pursue leads, and evaluate performance. It offers cloud-based CRM solutions and has secured partnerships with enterprises like ICBC, Shanghai Electric, and Lenovo. Tencent led IngageApp's D+ round in April 2018 with approximately USD 14 million (CNY 100 million), following its Series D of USD 40 million (RMB 280 million) in January 2017. Other investors include Sequoia Capital China, Matrix Partners China, and ZhenFund. Tencent's investments aim to integrate IngageApp's CRM with WeChat e-commerce for a digitized value chain connecting enterprises, distributors, and users.
Jan 2017Series DTencent (lead); ZhenFund; Sequoia Capital$41MIngageApp, operated by Xiaoshouyi (销售易), is a Beijing-based CRM solution provider founded in 2011 that leverages mobile social platforms and big data technology to help enterprises connect with customers efficiently, particularly through integration with platforms like WeChat. By 2019, IngageApp had achieved notable traction through partnerships with major Chinese corporations such as ICBC, Shanghai Electric, and Lenovo, replacing overseas CRM suppliers and focusing on digitized value chains for sales distributors and end-users. The company had secured investments from prominent VCs including Sequoia Capital, Matrix Partners China, and ZhenFund prior to 2017, with Tencent participating in multiple rounds. This followed earlier funding and preceded a CNY100 million (USD14 million) D+ round in April 2018 and a USD120 million Series E in September 2019, also led by Tencent, marking the largest funding in China's CRM sector at that time. The collaboration with Tencent aimed to synergize CRM capabilities with WeChat e-commerce, enhancing internal and external partner connections. Tencent's repeated investments underscored its strategic push into B2B services using social media data, amid competition from giants like Alibaba partnering with Salesforce. Later developments highlight Tencent's broader CRM and e-commerce investments, including in Youzan and Weimob, positioning IngageApp as a key player in China's CRM market.
Mar 2015Series CSequoia Capital$15M-

Who has invested in IngageApp?

3 investors have backed IngageApp across its funding rounds, including Tencent, Sequoia Capital and ZhenFund.

Lead investors include Tencent.


IngageApp Investors

Investors in IngageApp by funding rounds participated
InvestorHQRoundsRoleFirst check
TencentChinaShenzhen3LeadJan 2017

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IngageApp Competitors

IngageApp competitors include listed companies like Salesforce, HubSpot and Zeta Global, and private ones like Talkdesk, Gong and Clay.

Public and private companies comparable to IngageApp
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SalesforceUnited StatesUnited StatesPublicly listed$42B$13B$200B5.2x
HubSpotUnited StatesUnited StatesPublicly listed$3.1B$140M$11B2.9x
TalkdeskUnited StatesSan Francisco, CAPrivate$230M-$10B43.5x
Zeta GlobalUnited StatesUnited StatesPublicly listed$1.3B$39M$7.6B4.5x
GongUnited StatesSan Francisco, CAPrivate--$7.3B-
ClayUnited StatesNew York City, NYPrivate$200M-$7.1B35.5x

IngageApp Public Comps

IngageApp is still privately-owned, but its public comps include Salesforce, HubSpot, Zeta Global, Pegasystems, Klaviyo, Lumine Group, Freshworks, Braze, SoundHound and Marketingforce Management.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Salesforce$42B$13B5.5x5.2x17.8x12.2x
HubSpot$3.1B$140M3.3x2.9x73.7x12.1x
Zeta Global$1.3B$39M5.8x4.5x191.0x20.3x
Pegasystems$1.7B$294M3.2x3.1x19.2x11.3x
Klaviyo$1.2B($51M)3.1x2.6x(74.0x)16.7x
Lumine Group$766M$278M5.3x4.2x14.4x12.6x
Freshworks$839M$41M3.2x2.9x65.7x11.3x
Braze$738M($109M)3.4x3.0x(23.2x)33.6x

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Common questions about IngageApp

When was IngageApp founded?IngageApp was founded in 2011.
Where is IngageApp headquartered?IngageApp is headquartered in Beijing, China.
Is IngageApp publicly listed?No, IngageApp is a private, VC-backed company.
How much funding has IngageApp raised?IngageApp has raised $192M across 4 funding rounds.
What was IngageApp's last funding round?IngageApp's last funding round was a $120M Series E in September 2019, led by Tencent.
Who are IngageApp's investors?IngageApp's investors include Tencent, Sequoia Capital and ZhenFund.
Which companies are comparable to IngageApp?Companies comparable to IngageApp include Salesforce, HubSpot, Talkdesk, Zeta Global, Gong and Clay.

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