B2B

IngageApp deal shows Tencent pushing on with B2B drive

Beijing-based IngageApp has received its third investment from Tencent in two years, highlighting the latter's growing focus on Chinese corporate clients.

Serving business clients using huge social media data has long been Tencent’s dream and its latest bet reflects that, coming just a few weeks after quarterly results underlined the benefits of its diversification efforts.

On Thursday, the Chinese gaming and social media giant announced a sole investment into a customer relationship management platform. Forming its Series E fundraising, Beijing-based IngageApp received $120 million from Tencent. 

The proceeds will be used for research and to help develop the technology in Tencent's ecosystem. IngageApp, a software-as-a-service platform, will also use Tencent’s resources to search for more corporate clients.

It is the third...

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