(Yicai Global) Nov. 30 – China’s integrated marketing cloud company Convertlab has finished its B-round fundraising, which netted it over CNY100 million (USD15.24 million), it announced today. Venture Capital Lightspeed China Partners and the industrial and ecological investment platform under Chinese internet giant Tencent Holdings led the dance.

The proceeds will go to recruit talent from various sectors to enhance Shanghai-based Convertlab’s business as it steadily invests in technologies and better position its products, said Gao Peng, its co-founder and chief executive.

“The general trend of digital transformation is pragmatically promoting the growth of China’s marketing technologies, and China’s martech companies are also gradually internationalizing, said Herry Han, a Lightspeed founding partner. The integrated marketing cloud that Convertlab advocates leads the market with its high-quality synergy in operation and ability to integrate ecologies that represent Chinese innovation,” he added.

Founded in 2015, Convertlab focuses on the Chinese market. It independently developed the country’s first integrated market cloud product DM Hub and now provides integrated marketing cloud services in rivalry with US software developer Adobe.

The firm has thus far served more than 300 companies, including those in retailing, consumer goods, finance, autos and realty, winning recognition from Japan’s Fast Retailing’s Uniqlo clothing brand, Shanghai Pudong Development Bank, Beiqi Foton Motor and other giants.

The market’s future looms ever large as Chinese companies’ increasingly accept marketing technologies, Gao said, adding China will undergo huge growth in cloud marketing starting next year.

“We take a rosy view of Convertlab’s profound ideation for this sector and its insights into consumers and believe the company can definitely grasp opportunities to further optimize its products, open up closed links, and speed the sector’s empowerment,” Han added.

Editor: Ben Armour, Xiao Yi