Enterprise Social Service Mingdao Secured 20 Million Yuan Financing After Spinning Off From Meihua

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Mingdao, a yammer-like enterprise social service, announced yesterday that it had span off from parent company Meihua.info as an independent firm and secured 20 million yuan ($3.24 million) from Whales Capital in Pre-A Series financing (source in Chinese).

Mingdao started as an experimental project of Meihua, which has injected more than 10 million yuan in the company. The company’s products enable users to communicate on a platform, and thus, get everyone in one project on the same page. Projects are moved forward without all the emails or meetings. Data sharing function saves the cost of data maintenance.

Screenshot of Mingdao

Ren XiangHui, CEO of the company, disclosed that Mingdao will announce major product updates this week that include a task center. The firm will also unveil an app tailored to big cooperation groups. In addition, Mingdao planned to invest heavily in the development of open platforms, including an independent team to oversee the sector.

Chinese enterprise software have attracted industry attention and venture capital. Facishare, which also started as a Yammer-style service and then decided to follow Salesforce, raised Series A funding from IDG earlier this year.