Zhenzhi Technology Secures $11M in New Funds
Zhenzhi Technology, a service provider for corporate digitalization, has recently obtained 70 million yuan ($11.08 million) in new financing. The lead investors were Matrix Partners and Blue Lagoon Capital, while co-investors were Baidu Ventures and An’s Information. Yiren Capital was the exclusive financial consultant. The funds will reportedly be used for product R&D and market expansion.
Zhenzhi Technology was established in May 2021 and incubated from HAND Enterprise Solutions. The latter was established in 2002 and listed on GEM in 2011. After 20 years of development, HAND’s business now covers information application product R&D, consulting implementation and technical services. The company has developed from an initial ERP implementer to a solutions provider and now a digital ecological integrated services provider.
YQCloud is a core product of Zhenzhi Technology. It is designed to help enterprises build digital service capabilities and serve as a core service platform for their digital transformation. Specifically, YQCloud has low code platform supporting three major service management scenarios, including IT service management (ITSM), enterprise service management (ESM) and customer service management (CSM), in addition to AI empowerment with intelligent service capabilities across the three business scenarios.
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Following the outbreak of the COVID-19 pandemic in 2020, a surge was observed in the demand for remote services and self-service for enterprises. YQCloud launched an intelligent digital service capability by laying out an intelligent assistant, Yanxiaoqian, and provides 24-hour, year-round online services to help enterprises solve high-frequency recurring problems and reduce labor costs.
Zhenzhi Technology has independently expanded and leveraged HAND to contact and serve hundreds of customers, including leading enterprises in various industries such as Changan Ford Automobile, Siemens, AVIC China Aviation Lithium Battery Technology (CALB), Ganso and Miniso.
