Enterprise Software Platform Shimo Docs Completes B+ Round of Financing

(Source: geekpark)

Chinese online enterprise software provider Shimo Docs has recently completed B+ round of financing worth tens of millions of dollars, according to 36Kr.

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Led by Broadband Capital and Fangguang Capital, this round of funding also involved NIO Capital and Huachuang Capital, while Scale Partners acted as exclusive capital advisor.

Reportedly, the funds raised will be used mainly for further improvement on the performance of Shimo’s online office tools, as well as the development of new products that can better meet the needs of users and corporate clients.

The Google Docs-like collaboration tool has more than 28 million registered users and over 370,000 corporate users, per official data. Monthly page views exceed 360 million, and over 100 billion words have been written on Shimo documents. Users on Shimo Docs browse, create, edit, and comment on more than 50 files per week on average.

The coronavirus outbreak, which has devastated many businesses in China and the world, presents opportunities for telecommuting tools and other online service providers. Shimo Docs founder Wu Bing revealed recently that the number of new users and corporate registration has increased about six times during the outbreak. The daily number of downloads from Apple App Store of video communication tools like DingTalk and Zoom has increased by five to ten times.

To support businesses that are shut down and require staff to work from home during the outbreak, many online collaboration apps and software have offered free tools and features for a limited time. Whether the new corporate users will choose to pay for such tools when they return to normal operation remains a challenge for Shimo Docs and other telecommuting solution providers.