5Y News | ONES, a R&D management tool, closes RMB 300 million funding round, extending its lead in the R&D management赛道 Wait, let me correct that last part properly: 5Y News | ONES, a R&D management tool, closes RMB 300 million funding round, extending its lead in the dev tools赛道 Actually, let me reconsider — "赛道" is used naturally in English VC coverage now, but let me check if this flows better: 5Y News | ONES, a R&D management tool, closes RMB 300 million funding round, extending its lead in the R&D management space

ONES (https://ones.ai) recently announced the completion of its Series B1 and B2 rounds totaling RMB 300 million, setting a new record for funding in China's R&D management sector. New investors include XVC, SoftBank China, and Source Code Capital, while existing investor 5Y Capital has now backed the company across four consecutive rounds. ONES had previously raised multiple rounds from 5Y Capital, China Growth Capital, and JiaYu Fund. The new capital will go toward strengthening product R&D and service investment, expanding the team, and building a world-class organization to further solidify ONES's leadership position in China's R&D management track.

Liu Kai, Partner at 5Y Capital, said: "Congratulations to ONES on completing two large consecutive funding rounds, and congratulations to the new shareholders on joining. In China's software R&D and engineering management space, ONES has proven itself to be the absolute leader not just in business performance, but also in reinforcing the industry's top-tier consensus at the capital level. China's software and SaaS industry is growing rapidly, but overall scale remains in its early stages. The ONES team has worked quietly and diligently to build out a comprehensive product matrix and go-to-market system in just a few short years — achievements that have not come easily. As the company's earliest and most steadfast investor, we wish them continued success and breakthroughs; the biggest surprises still lie ahead!"

Founded in 2015, ONES is a leading provider of R&D management solutions in China. ONES offers eight specialized R&D management products covering the full software development lifecycle. In 2020, ONES acquired Tower, a well-known domestic team collaboration tool, further expanding its business footprint to serve teams ranging from small groups to large enterprises with one-stop solutions spanning general project management scenarios to professional R&D management.

Overseas, R&D management tools are already widely adopted. Atlassian commands a market cap of $60 billion, and its products including Jira, Confluence, and Trello have fully demonstrated their value for enterprise software production. ONES's 2020 acquisition of Tower was seen as a domestic equivalent of the "Jira + Trello" combination, capable of delivering more integrated project management capabilities for teams from startups to mega-conglomerates, comprehensively elevating enterprise digital management standards.

Market research firm IDC considers digitalization one of the critical imperatives for building future global leaders and organizational development. In 2020, amid the global COVID-19 pandemic, worldwide IT spending far outpaced global GDP growth. Software and technology are increasingly helping enterprises solve business problems.

As "new infrastructure" for digital transformation, ONES presses forward with unwavering commitment to advancing China's software industry. ONES's R&D management tools optimize the software production process holistically and improve process oversight, effectively organizing collaboration across large and complex teams, eliminating wasted effort, and improving software development and delivery quality — thereby enhancing core enterprise competitiveness. It is an indispensable "assembly line" for the software industry.

ONES possesses deep understanding and extensive practical experience with R&D management scenarios at domestic enterprises. Currently, ONES has earned the trust of numerous Fortune 500 companies including Xiaomi, China Merchants Fund, Inspur Software, China Telecom, Kweichow Moutai, and SAIC.

As product self-sufficiency and service capabilities have gradually matured, domestic substitution has become another important reason why more large and medium-sized enterprises are choosing ONES amid the current complex international landscape. ONES is now delivering R&D management best practices to millions of enterprises across internet, software and hardware, gaming, finance, education, and other sectors.

At the same time, ONES actively fulfills its corporate social responsibility, having provided technical management support to DJI Education and Itcast Education for multiple consecutive years to help cultivate high-quality software R&D talent. Additionally, as a member of the China Communications Standards Association, ONES participated in formulating the DevOps Capability Maturity Model standard. Recently, ONES became Vice Chair of the Shenzhen Information Technology Application Innovation Alliance, dedicated to enhancing independent innovation in the IT industry and actively promoting the development of Chinese software.

Wang Yingqi, Founder and CEO of ONES, stated, "The software industry requires advanced management concepts and tools. ONES will continue to focus on the software R&D management track and drive the rapid development of China's software industry."

5Y Capital (formerly Morningside Venture Capital) currently manages approximately $5 billion across USD and RMB dual-currency funds. We believe the world would be a better place if the crazy you that others see starts to be believed.

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