The provider of digital transformation solutions, PubLink, announced on Wednesday that it had secured funding through A1 and A2 rounds of financing, with a total amount of 100 million yuan ($15.7 million). The leading investors were Sequoia China and Tiger Global, and the exclusive financial adviser was Dialogue Capital.
This is the largest single round of financing for a domestic after-sales SaaS company, and PubLink is also one of the few enterprises that have been funded by two top capital firms at the same time. Li Ming, the founder and CEO of PubLink, said that this round of financing will be used for recruitment, product innovation, and to expand the company’s scope of business.
In the domestic environment which puts marketing first, enterprises have attracted many new customers through investments in marketing and sales. If these customers cannot be retained, the enterprises will have higher operating costs and lower profit margins. Founded in 2015 and headquartered in Hangzhou, PubLink provides solutions, including after-sales service and marketing cloud access, in a workflow that helps enterprises reduce customer churn and generate more revenue through existing customers.
PubLink has served more than 3,000 enterprises including GE, ABB, Kärcher and KEENON. Among them, customers in intelligent manufacturing, medical care, new energy and other industries, have accounted for more than 80% of the company’s customer base, while client renewal rates have reached 120%.
Without PubLink, the service management of enterprises needed to adopt internal ticketing systems, which were designed for the process of tracking problems, yet often ignored the value and user experience. With PubLink, enterprises can connect to customers through WeChat in order to solve problems requiring customer interaction. Engineers can guarantee the quality of service and increase their efficiency through the APP. Managers are able to remedy the lack of data support and operation methods through the dashboard and operational tools.