On July 21, 2023, FenShares announced that it has received an investment of US$30 million from the Guizhou Provincial Innovation Empowerment Big Data Fund. This is the third consecutive year that it has received capital support after receiving investment from CDH Baifu in 2021 and ChinaSoft International in 2022. IPO Capital acted as the financial advisor for this round of financing.
In the past three years, despite the influence of various factors, Funshare has achieved rapid development, and has continued to maintain a growth rate of over 40% in the past three years. According to the analysis of a third-party market testing agency, FunShare ranks first in China's domestic CRM industry in terms of revenue and market share, and is a leader in China's CRM industry.
At present, the demand for enterprises to focus on customers and deepen the market is strong. Facing the complex economic environment at home and abroad, the efficient acquisition of incremental customers and the value management of existing customers have become the basis for the survival and development of enterprises, which has also contributed to the further development of platform-based CRM such as Funshare.
2023 will be a watershed in China's SaaS field. Luo Xu, founder and CEO of Funshare, said that the traditional CRM limited to customer resource management, sales record management and sales opportunity funnel in the internal sales department of the enterprise is outdated, and a growth business platform that is customer-centric and manages value around the entire customer life cycle is the future.
FenShare has been deeply involved in the CRM field for 12 years. Relying on a mature PaaS platform, marketing-sales-service integrated CRM, in-depth industrial solutions, and unique business connection capabilities between upstream and downstream enterprises and parent-subsidiary companies, it has provided services for more than 6,000 large and medium-sized enterprises including Fudi Technology, XJ Group, Absen, United Imaging, Hisense Group, China Electronics Hikvision, Megvii, Digital China, Yuanqi Forest, Orion, Muyuan, Hengxing Group, etc., and has become the preferred brand in the CRM field. .
Luo Xu believes, "Currently, China's enterprise service software industry is facing the most difficult period in the past ten years. With the ebb of capital, enterprises that used to rely on capital for development will face a severe test of survival; however, it is also the best era for China's enterprise service software. After the ebb of capital, enterprise service vendors that insist on value management will gain good and long-term development space and market competition opportunities."
As early as 2017, Funshare established the position of "connected CRM", using CRM as an enterprise marketing operation platform, a digital intelligent decision-making platform, and an upstream and downstream business interaction platform to realize full-scenario, full-link, end-to-end, and integrated digital operations of marketing business.
Luo Xu said that in the future, he will accelerate the exploration of the intelligent combination of data intelligence (DI) and generative AI (ChatGPT) with the core business scenarios of CRM, so as to realize the vision and mission of Funshare CRM to empower the growth of enterprises with industry wisdom.
Tian Changhong, chairman of Guiyang Venture Capital, said that big data is a breakthrough in the development of new industrialization in Guizhou Province. With its unique data center and intelligent computing advantages, Guizhou has unique advantages in cloud computing, cloud storage, digital content, industrial Internet, artificial intelligence and other fields. The data centers of China Mobile, China Unicom, China Telecom, Huawei, Tencent, Apple and other world-renowned companies have all settled in Guizhou. This time, through the investment of FenShare, it will cooperate with Guiyang Venture Capital to introduce Manbang Group, Yijingjie, Yidu Cloud, Mafengwo, Elephant Huiyun, Databao and other outstanding industry data companies that have settled in Guiyang, forming a new format of digital industry in Smart Computing Guiyang and Guizhou on the Cloud. CRM is the core area of enterprise data transformation. With its leading product concepts and mature management capabilities, Fenshare has become a leader in the domestic SaaS CRM field. After this round of investment, Guiyang Venture Capital will make full use of the advantages of Guizhou's big data industry to help Fenshare accelerate its development and help Fenshare achieve new breakthroughs in the central state-owned enterprise market and the SaaS ecological field.
In 2019, FenShare started product internationalization construction, and has completed data center deployment and related data security certification in Europe. While strengthening the internationalization capabilities of multi-language, multi-time zone, multi-currency and other products, it will continue to improve the layout of global data centers (IDCs) in Southeast Asia, Europe and the United States, and help Chinese companies go overseas and expand the international market.
In terms of operation, Fenxiang Sales will continue to deepen the industry intensive cultivation strategy, strengthen the expansion of channel ecological partners and the construction of channel empowerment system, and use Hong Kong as a connection point to accelerate the construction of an international business team and an international ecological partner system when consolidating its domestic market expansion capabilities.
Wang Hui, an investor of Chinasoft International (Qinglan Capital), said , "Chinasoft International has always been optimistic about the future of China's SaaS CRM, and is optimistic about the sales of Funshare." He believes that the management team of Funshare has a broad vision and is rational and mature. It has both strong local strategy implementation capabilities and a far-reaching global vision. In the past two years, the company has become increasingly mature in terms of PaaS platform capabilities, integrated CRM and industry solutions, and has become internationally competitive. Chinasoft International and Funshare will continue to strengthen cooperation in the field of customer service for Zhongda, and join forces to promote the sustainable and healthy growth of related businesses.
Twelve years of training in the CRM market has made Luo Xu rational and optimistic about the future development. He said that "Funshare has gone through the storm and finally sees the rainbow". The current economic environment and the great changes in the industry have created huge development opportunities for the company. However, no matter how much the market and industry have changed, Funshare has always adhered to the customer values of "customer success defines success" and the organizational development concept of "growth-driven growth" to face the market and competition.
Facing the future, Funshare will join hands with strategic partners IPO Capital and Gaohu Capital to actively promote the orderly development and implementation of strategic work such as industry integration, refinancing, and listing, and make long-term deployments in the domestic and overseas markets of central state-owned enterprises, kicking off the prelude to the company's development in the next ten years.