TUNGEE Funding, Investors & Competitors

TUNGEE has raised $236M across 5 funding rounds, most recently a $47M Series B in December 2021.

Last TUNGEE funding round

$47M

Series B · Dec 2021

Cumulative funding TUNGEE raised

$236M

across 5 funding rounds

Key investors in TUNGEE

  • Qiming Venture Partners
  • HSG
  • GGV Capital
  • Alibaba Group
  • Cathay Capital
  • SBCVC
  • UnityVC
  • Jiuhe Venture Capital

TUNGEE Overview

About TUNGEE

Tungee is a Beijing-headquartered intelligent sales platform established in 2016 that leverages NLP and machine learning to mine leads from 100 million+ Chinese enterprises. It delivers end-to-end solutions from prospecting via 1 billion data points to CRM and order analytics, reducing acquisition costs by 40% for clients. Tungee serves 3,000+ businesses including Alibaba, China Mobile, and Focus Media, with tools deployed in sales automation across B2B sectors like manufacturing and tech services.


TUNGEE Funding History

TUNGEE has raised a total of $236M across 5 funding rounds.

TUNGEE's first fundraising round was a $6M Series A in August 2018. The most recent completed round was a $47M Series B in December 2021.

TUNGEE funding rounds

TUNGEE funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2021Series BCathay Capital (lead); UnityVC; Qiming Venture Partners; Jiuhe Venture Capital; SBCVC; GGV Capital; HSG$47MTungee, a leading intelligent sales SaaS provider in China, completed a B+ or Series C-II funding round on December 15, 2021, raising approximately $47.14 million (300 million yuan), led by Cathay Capital Private Equity with participation from GGV Capital, HongShan (HSG), Qiming Venture Partners, Unity Ventures, and other prior investors including Sequoia China. The funds were allocated to production and research investments, business expansion, service system upgrades, and further product R&D. Tungee's products serve over a dozen industries, assisting more than 10,000 enterprises in digital operations and sales team upgrades, with notable clients like Alibaba Cloud and China Merchants Bank across financial, taxation, logistics, and e-commerce sectors. This marked Tungee's fifth or sixth funding round since its founding around 2016, with prior rounds including an A-round backed by Alibaba Group in 2018, accumulating over $171 million in total funding. The company competes with players like Xiaoshouyi in the sales SaaS space. Tungee was highlighted by Cathay Innovation as having unicorn potential amid China's market dynamics in late 2021.
May 2021Undisclosed stageQiming Venture Partners$148MTUNGEE is a Chinese software firm backed by Alibaba that closed a USD 17 million Series B funding round with participation from Qiming Venture Partners.
Jul 2020Series BHSG (lead); Qiming Venture Partners$17MTungee, an Alibaba-backed software firm, closed a USD 17 million Series B funding round in July 2020 led by HSG with participation from Qiming Venture Partners. The round supports the company's growth in its software operations.
Aug 2019Series BQiming Venture Partners$18M-
Aug 2018Series AQiming Venture Partners (lead); Alibaba Group$6MTungee is an enterprise-level sales intelligence software-as-a-service platform founded in 2016 in Guangzhou, China. The company provides sales-based products including lead generation and customer relationship management, powered by a proprietary corporate database containing over 100 million enterprises with more than 10,000 data dimensions and 100 million-plus web pages crawled and updated daily. In August 2018, Tungee completed a Series A financing round raising RMB 43 million from Alibaba Group and Qiming Venture Partners. The funding was intended to strengthen infrastructure and accelerate product development. By the time of this round, the company had already attracted major clients including Alibaba, China Mobile, Focus Media, and NetEase, with more than 3,000 total customers across its sales intelligence platform. Following the Series A investment, Tungee continued expanding its capabilities in AI-enabled solutions and product offerings. The company subsequently raised additional capital in later rounds, including a Series B for RMB 120 million (approximately USD 17 million) led by Sequoia Capital China, demonstrating sustained investor confidence in the sales intelligence software market in China.

Who has invested in TUNGEE?

8 investors have backed TUNGEE across its funding rounds, including Qiming Venture Partners, HSG, GGV Capital, Alibaba Group, Cathay Capital and SBCVC.

Lead investors include Cathay Capital, HSG and Qiming Venture Partners.


TUNGEE Investors

Investors in TUNGEE by funding rounds participated
InvestorHQRoundsRoleFirst check
Qiming Venture PartnersChinaShanghai5LeadAug 2018
HSGHong KongHong Kong2LeadJul 2020
UnityVCChinaBeijing1ParticipantDec 2021
Jiuhe Venture Capital--1ParticipantDec 2021
SBCVCChinaShanghai1ParticipantDec 2021
Alibaba GroupChinaHangzhou1ParticipantAug 2018

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TUNGEE Competitors

TUNGEE competitors include listed companies like Rezolve AI, Appier Group and SoundHound, and private ones like Clay, Anthropic and OpenAI.

Public and private companies comparable to TUNGEE
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Rezolve AIUnited KingdomUnited KingdomPublicly listed$47M($109M)$950M4.0x
Appier GroupJapanJapanPublicly listed$281M$44M$1B2.9x
ClayUnited StatesNew York City, NYPrivate$200M-$7.1B35.5x
SoundHoundUnited StatesUnited StatesPublicly listed$169M$19M$2.7B11.3x
AnthropicUnited StatesSan Francisco, CAPrivate$47B-$965B20.5x
OpenAIUnited StatesSan Francisco, CAPrivate$25B-$852B34.1x

TUNGEE Public Comps

TUNGEE is still privately-owned, but its public comps include Palantir, Alibaba Group, CrowdStrike, SAP, Salesforce, ServiceNow, Snowflake, Adobe, Datadog and Moody's.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Palantir$4.5B$1.5B92.6x58.1x285.0x97.4x
Alibaba Group$153B$15B1.7x1.6x17.5x13.0x
CrowdStrike$4.8B($12M)51.4x44.5x(19816.2x)151.0x
SAP$42B$13B5.8x5.4x18.4x17.1x
Salesforce$42B$13B5.5x5.2x17.8x12.2x
ServiceNow$13B$2.6B11.1x9.6x57.2x25.0x
Snowflake$4.7B($1.3B)25.6x21.0x(94.1x)121.7x
Adobe$24B$9.3B4.3x3.9x10.9x8.2x

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Common questions about TUNGEE

When was TUNGEE founded?TUNGEE was founded in 2016.
Where is TUNGEE headquartered?TUNGEE is headquartered in Guangzhou, China.
Is TUNGEE publicly listed?No, TUNGEE is a private, VC-backed company.
How much funding has TUNGEE raised?TUNGEE has raised $236M across 5 funding rounds.
What was TUNGEE's last funding round?TUNGEE's last funding round was a $47M Series B in December 2021, led by Cathay Capital.
Who are TUNGEE's investors?TUNGEE's investors include Qiming Venture Partners, HSG, UnityVC, Jiuhe Venture Capital, SBCVC, Alibaba Group, GGV Capital and Cathay Capital.
Which companies are comparable to TUNGEE?Companies comparable to TUNGEE include Rezolve AI, Appier Group, Clay, SoundHound, Anthropic and OpenAI.

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