Yuntongxun Raises Hundreds of Millions of RMB in Series D Funding | Oasis Capital Vitality

The following information is sourced from a cloud communications platform.

"Since our first investment in 2015, we have witnessed Yunshixun's rapid and sustained growth. Behind this lies the broader trend of structural growth among mid-sized companies and the founder's abundant vitality. We are honored to grow alongside an entrepreneur like Mr. Sun," said Jinjian Zhang of Oasis Capital.

In October 2019, intelligent cloud communications service provider Cloopen (Ronglian) announced the completion of its Series D financing of several hundred million RMB, becoming the first company in the enterprise communications sector to reach this milestone. The round was led by Prospect Avenue Capital (PAC), with Oasis Capital, Yunhui Capital, and HSG participating as co-investors.

"Our mission is to enhance the operational efficiency of human organizations," said Cloopen founder and CEO Changxun Sun, noting that the company has been dedicated to driving Chinese enterprises' communications migration to the cloud and industrial intelligent transformation. Following this financing round, Cloopen will maintain its full-product development strategy, integrating contact and collaboration to help enterprises improve sales efficiency and customer service experience. The company will also further increase investment in AI-enabled communications, video applications, and other areas.

Since Twilio's successful IPO in 2016, the U.S. cloud communications market has been booming — Twilio's stock once surged an astonishing 216%, with analysts predicting it could become the second AWS. Additionally, the median market capitalization of several publicly traded cloud communications companies including Zendesk and RingCentral has approached $10 billion, while Zoom, which IPO'd this year, briefly reached a market cap of $23 billion.

In China, the cloud communications market holds equally broad prospects. According to an iResearch report, in 2017, China's enterprise communications market reached 667.4 billion RMB. More importantly, the cloud migration of large and medium-sized enterprises is still in its early stages, and industrial intelligent transformation is full of possibilities. As a pioneer in China's cloud communications sector, Cloopen's product portfolio already covers CPaaS (voice, SMS, etc.), CCaaS (cloud customer service, cloud contact centers, etc.), and UCaaS (unified communications, IM instant messaging cloud, video and conferencing, etc.). The company also provides industry-specific, scenario-based new communications solutions and has deeply cultivated the commercialization of "communications + AI," effectively realizing AI empowerment. It is currently the only cloud communications company in China with a comprehensive business segment layout. Cloopen now employs 1,100 people, with technical R&D staff accounting for 60%.

Zhu Feng, co-founding partner of Yunhui Capital, believes that given the potential scale of China's industrial internet, world-class enterprises will emerge in both cloud resource and cloud computing vertical applications. Cloud communications represents the most extensive and core segment of cloud computing vertical applications, growing rapidly with a market potential in the hundreds of billions. Cloopen has established competitive moats ranging from technical accumulation to product depth, from sales capability to customer success, and possesses the potential to become a world-leading company in this field.

"Our vision is to become the world's largest intelligent cloud communications service provider," Changxun Sun said with confidence about Cloopen's future development.

Oasis Capital is a new-generation venture capital institution in China, dedicated to discovering the most vital entrepreneurs of the next decade and growing alongside them to create long-term value. "Championing Vitality" is Oasis Capital's vision and mission. This vitality is both the direction of structural transformation in the era and the resilience and evolutionary power of entrepreneurs. Oasis Capital focuses on early and growth-stage investments, with individual investments ranging from $3 million to $30 million, concentrating on technology-enabled services in education, healthcare, enterprise services, and other sectors, supporting the upgrade of China's technology-driven new services.