Source Code Capital portfolio company "ONES" announces $50 million Series C round, with existing investor Source Code Capital continuing to increase its stake

源码资本·September 22, 2021·0·0

Recently, ONES, an enterprise R&D management tool, announced the completion of a $50 million Series C round. This comes just over two months after the company announced in late June that it had completed successive RMB 300 million Series B1 and B2 rounds. The round was led by Singapore's GIC, with **Yuanyi Capital** serving as the exclusive financial advisor. **Existing investor Source Code Capital has now backed the company across three consecutive rounds.**

Recently, ONES, an enterprise-grade R&D management tool, announced the completion of a $50 million Series C funding round. This came just over two months after ONES announced in late June that it had raised RMB 300 million across its Series B1 and B2 rounds. The lead investor in this round is Singapore's sovereign wealth fund GIC, with Yuanyi Capital serving as the exclusive financial advisor. Existing investor Source Code Capital has now backed ONES across three consecutive rounds.

To date, ONES has completed three funding rounds totaling nearly $100 million within a six-month span. Its investors include prominent domestic and international funds such as 5Y Capital, China Growth Capital, Jiayu Capital, XVC, Source Code Capital, SoftBank, and GIC. This makes ONES both the most-funded company in China's R&D management sector and the record-holder for the fastest fundraising pace in the industry's history.

ONES founder and CEO Yingqi Wang said: "We spent six years refining an R&D management system tailored to the needs of Chinese tech companies, serving numerous leading clients across various industries. With ample capital now in hand, we will actively recruit top talent, expand our team, accelerate product iteration, deliver excellent service to our customers, maximize enterprise value, and proactively fulfill our social responsibilities."

Founded in 2015, ONES has grown in just a few years into a leading domestic provider of R&D management solutions. Its eight specialized R&D management products cover the entire software development lifecycle. In 2020, ONES acquired Tower, a well-known domestic team collaboration tool, expanding its business footprint to achieve "full-spectrum coverage" from small teams to large and medium-sized organizations, providing one-stop solutions ranging from general project management scenarios to professional R&D management.

Currently, ONES's client roster includes multiple Fortune 500 companies such as Xiaomi, China Telecom Group Co., Ltd., Kweichow Moutai, SAIC, China Merchants Fund, and Inspur Software. Tower serves leading enterprises across various sectors including Transsion, China Resources Innovation and Learning Center, Sunner Group, and Yuanfudao, with over one million teams served cumulatively.

With this funding round completed, ONES will enter an even faster growth track, with continued strengthening of product R&D and service investment, and further expansion of its talented team. This will enable the company to build more advanced, secure, user-friendly, and localized products — delivering quality service to clients while making sustained contributions to the development of China's software industry.