China’s property management system provider GreenCloud announced that it had secured RMB 180 million (USD 28.4 million) in its B round financing backed by equity investment company Cowin Capital.
GreenCloud said the round marks “the largest funding round in China’s PMS sector”.
GreenCloud, founded in 2010, has signed 12,000 clients and has partnered with more than 20 local hotel groups ranked in the top 60 Chinese hotel groups as well as major international hotel brands.
Its iHotel platform connects over 720,000 hotel rooms and runs more than 1,500 hotels via its e-commerce platform. The company is also in strategic cooperation with nearly 100 tourism firms.
GreenCloud raised RMB 85 million in its series A and A+ equity & debt financing round on Sep 8, 2016.