Tec-Do Completes Round B+ Financing
Tec-Do, a one-stop service platform to help Chinese enterprises access markets overseas, recently announced the completion of a round B+ financing worth several hundred million yuan. The round was funded by Eastern Bell Capital while Index Capital was the exclusive financial consultant on the deal.
In recent years, oversea industries have ushered in rapid development. As per the statistics of the General Administration of Customs and the research done by EqualOcean Data, the cross border e-commerce delivery scale of China’s exports reached 7.73 trillion yuan in 2021 but the whole market is expected to keep growing. The firm calculates that the transaction scale could potentially exceed 9 trillion yuan.
Li Shuhao, CEO of Tec-Do, thinks that companies are confronted with two major hurdles while making their way to overseas markets, namely, a sense of security and a sense of experience. The lack of “security” is a result of the limits on how to understand the marketing of their products or services. Subject to language and culture constraints, consumer habits, business environment and other restrictions, Chinese companies have limited knowledge of overseas markets, and are unfamiliar with overseas media, placement and other marketing links.
Meanwhile, the lack of a “sense of experience” is evidenced by the rising demand for overseas marketing solutions. As the competition for brands in the overseas markets becomes more intense, coupled with restrictions on overseas policies and platforms, it is no longer feasible to satisfy the marketing needs of fast-growing overseas companies by manpower or traditional marketing tools alone.
Tec-Do was established in 2017 with two platforms, one called “Tec-AD Overseas Advertising Marketing Empowerment Platform” and the other “Tec-GO Overseas Service Provider Aggregation Platform”. For media resources, Tec-Do reached deals with the world’s leading platforms, including Facebook, Google Ads, Twitter and other mainstream media platforms.
Tec-Do has accumulated extensive experience and analysis models based on previous cases, and has developed a “Marketing Cloud SaaS” system. Now, the company has improved advertising efficiency by more than 10 times and account management efficiency by more than five times.
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Now, Tec-Do’s business covers more than 200 countries and regions around the world. Serving 10,000 customers or so, Tec-Do has achieved a performance growth rate of more than 200% and connects to industries such as applications, games, e-commerce and brand customers. Tec-Do is a partner of industry-leading enterprises, such as Bytedance, Kuaishou, Tencent Game, NetEase Game, Alibaba, and many others.