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- IngageApp
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
Tencent
Sequoia Capital
ZhenFund
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
Website
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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Sep 2019 | Series E | Tencent (lead) | $120M | IngageApp, 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 2018 | Series D | Tencent (lead) | $16M | IngageApp, 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 2017 | Series D | Tencent (lead); ZhenFund; Sequoia Capital | $41M | IngageApp, 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 2015 | Series C | Sequoia 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jan 2017 | ||
This data is available for Pro users. Sign up to see all 3 IngageApp investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialIngageApp Competitors
IngageApp competitors include listed companies like Salesforce, HubSpot and Zeta Global, and private ones like Talkdesk, Gong and Clay.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $42B | $13B | $200B | 5.2x | ||
| Publicly listed | $3.1B | $140M | $11B | 2.9x | ||
| Private | $230M | - | $10B | 43.5x | ||
| Publicly listed | $1.3B | $39M | $7.6B | 4.5x | ||
| Private | - | - | $7.3B | - | ||
| Private | $200M | - | $7.1B | 35.5x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $42B | $13B | 5.5x | 5.2x | 17.8x | 12.2x | |||
| $3.1B | $140M | 3.3x | 2.9x | 73.7x | 12.1x | |||
| $1.3B | $39M | 5.8x | 4.5x | 191.0x | 20.3x | |||
| $1.7B | $294M | 3.2x | 3.1x | 19.2x | 11.3x | |||
| $1.2B | ($51M) | 3.1x | 2.6x | (74.0x) | 16.7x | |||
| $766M | $278M | 5.3x | 4.2x | 14.4x | 12.6x | |||
| $839M | $41M | 3.2x | 2.9x | 65.7x | 11.3x | |||
| $738M | ($109M) | 3.4x | 3.0x | (23.2x) | 33.6x | |||
This data is available for Pro users. Sign up to see all IngageApp competitors and their valuation data. Start Free Trial | ||||||||
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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