(Yicai Global) April 20 -- Lanhu, a Chinese collaboration platform for product design teams, has raised CNY300 million (USD46.1 million) in three funding rounds, led by venture capital firms Lightspeed China Partners, Sequoia Capital China and GSR Ventures.

The money secured in the Series A, Series A+ and Series B funding rounds will be used to promote product research and team building, Lanhu said yesterday.

Lanhu helps product design teams achieve real-time collaboration. Its main end users are user interface designers, front-end engineers and product manager groups.

The company has tens of thousands of paid corporate clients, with an over 98 percent penetration rate among China’s top 100 internet companies, it said. Lanhu also provides freemium services to individual users and small indie projects, with nearly five million registered users.

Its research and development team makes up 70 percent of its staff and is expected to top 400 people by the end of the year. They are charged with developing more exclusive versions of its collaboration platform for vertical industries and assisting internet product designers to set and manage product specifications.

Editor: Kim Taylor