5Y Capital portfolio company "Craftsmen Technology" announces completion of nearly RMB 100 million Series B2 financing round | 5Y News
Continuously empowering commercial real estate.
Commercial real estate digital services provider Jiangren Technology (匠人科技) recently completed a nearly RMB 100 million Series B2 funding round, led by Trustbridge Partners with YiBai Capital serving as the exclusive financial advisor. The funds will be primarily used for R&D and business expansion.
5Y Capital led the company's Series B round and continued its support in the B1 round.
Haichuan Hu, Vice President at 5Y Capital, commented: "Commercial real estate is a traditional, massive industry, but it has undergone enormous changes in recent years — from new supply to existing stock, and toward asset securitization. Across leasing, operations, transactions, and every other segment, industry players' demand for precision and efficiency has become increasingly real, and digitization is the foundation for all of this. Jiangren Technology has been putting in the hard work, day after day, in this massive industry, persisting in doing the difficult but right things. We look forward to them continuing to bring greater impact and create greater value for the industry."
Founded in 2015, Jiangren Technology has remained focused on the proptech track. It has been a year and a half since its last funding round, during which the company has made considerable changes in product development and business expansion.
Since 2016, Jiangren Technology's main product has been CREAMS, a building management SaaS platform. CREAMS provides foundational functions including building management, inventory management, leasing management, tenant management, property management, payment collection and processing, statistical analysis, asset valuation, and permission management. It also helps property owners view building cross-sections, combine building information flexibly, publish listings with one click, auto-generate contracts, export multi-dimensional reports, set intelligent rent payment reminders, receive contract expiration alerts, conduct big data analysis of tenant companies, forecast rents, and manage cash flow — thereby significantly enhancing building owners' management and operational capabilities.
Building on the CREAMS platform, Jiangren Technology has since launched additional products.
On the supply side, Jiangren Technology introduced LikeCRM, a customer profiling system for leasing agents. This tool helps leasing agents standardize and accumulate customer data, generate customer profiles, analyze customer behavior, manage team performance, track broker-led viewing records, and achieve real-time, visualized inventory control. For projects needing to quickly boost occupancy rates in the short term, Jiangren Technology launched Laike Promotion (来客推广), a marketing and customer acquisition tool. Laike Promotion integrates full-channel traffic entry points — including WeChat Moments, official accounts and mini programs, WeChat groups, accumulated customer information, brokers, and advertising platforms — to promote partner projects. Promotional materials include project information, photos, inventory lists, rent control maps, and incentive red packets, with promotional posters generated through one-click in Laike Promotion. Beyond social channel distribution, Laike Promotion also connects to broker channels through its product BrokerLink (经纪互联). The tool supports various marketing mechanics targeting brokers, allowing project owners to stimulate broker cooperation enthusiasm, while also providing VR and video viewings to help brokers and clients quickly understand project information. Finally, the tool accumulates relevant leasing information, giving owners real-time visibility into data conversion at each leasing stage to inform strategy adjustments.
On the demand side, for brokers, Jiangren Technology launched BrokerLink, a commercial real estate broker listing platform: an inventory database for commercial brokers, helping them access the latest and most authentic listing information across the web. Project promotions in Laike Promotion are synced to BrokerLink to recommend available projects to brokers.
Jiangren Technology also developed Wanlou Data (万楼数据), a big data platform for commercial real estate, with data sourced from ground team maintenance and accumulated through its own tools and platforms.
To date, CREAMS has become one of the few purely SaaS-deployed commercial asset management products, covering 22 cities nationwide, over 16,000 buildings, and managing more than 200 million square meters. LikeCRM and BrokerLink have currently expanded to Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Hangzhou, and other cities, cumulatively covering thousands of leasing departments and tens of thousands of commercial real estate brokers.
CoStar Group, a NASDAQ-listed U.S. real estate information and research company, is currently the largest commercial real estate data services and research firm in the United States. After more than 30 years of development, it has built the largest commercial real estate database in the country, monitoring over 8.8 billion square meters of commercial building space, recording every status change of every room from construction, leasing, and sale to demolition. According to incomplete statistics, 83% of U.S. commercial real estate transactions are connected to CoStar. No platform in China has yet achieved this effect, and Jiangren Technology states that benchmarking against CoStar has always been a corporate development goal. Domestically, other players include CIH, a wholly-owned subsidiary of Fang.com, and Cloud Space under Mingyuanyun.
Jiangren Technology founder Ming Xiang candidly stated that compared to immediate profits, what matters more is building a comprehensive dynamic database for the commercial real estate industry and establishing clear industry standards. As commercial office stock continues to increase while demand remains relatively constant, competition among suppliers is intensifying, and refined management is becoming the decisive factor in returns for asset holders — thus the utility Jiangren Technology's products bring to clients will continue to grow. At the same time, an increasing number of commercial transaction scenarios are urging the industry to establish comprehensive commercial real estate big data as soon as possible. Jiangren Technology's Wanlou Data aims to become the underlying database for the commercial real estate industry.
Following this funding round, Jiangren Technology will continue to empower the commercial real estate industry, adhere to product standardization, and commit to building comprehensive digital infrastructure for commercial real estate amid the industry's increasingly refined operations.
5Y Capital (formerly Morningside Venture Capital) currently manages approximately RMB 32 billion in USD and RMB dual-currency funds. 5Y Capital seeks out, supports, and inspires lonely entrepreneurs, providing them with support from the spiritual to all operational aspects. We believe that if the "crazy" you in others' eyes begins to be believed in, the world will become a different place.
BEIJING · SHANGHAI · SHENZHEN · HONG KONG
