Beijing-based pharmaceuticals-oriented Software as a Service (SaaS) developer ForceClouds Software recently revealed that it secured USD 7-digit Series A funding from Eight Roads Ventures in January this year. To date, the company has raised over RMB 1 bln in funding from both domestic and overseas investors.
ForceClouds entered the marketplace as a sales automation solutions provider, and has since gradually expanded into marketing and sales, clinical trials, distribution channels, and business strategy. The company uses big data-based SaaS solutions to help clients improve their productivity.
ForceClouds broke even in 2016, with sales revenue reaching RMB 15 mln. In Q1 2017, the company surpassed RMB 10 mln in single-month contract sales.
Founder Zhang Yingnan revealed that this year ForceClouds will expand R&D and market investment in its business suite products. It will also complete the launch of its new clinical trial research product and continue its work in AI-assisted pharmaceutical R&D.
Editor's Note: For more information on this topic, please see "Pharmaceutical SaaS Developer ForceClouds Lands RMB 8-digit Pre-A," MD 9/07/16 issue. Note that while the coverage of this news in Lieyunwang gives the date of Forceclouds' Series A funding simply as beginning of 2017, another source, 2B.cn, specifies that it was in January 2017.