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Chinese HR tech firm Beisen bags $260 million Series F
Chinese cloud-based human resource SaaS firm Beisen has received $260 million in what it claims to be the largest financing in the local human resources (HR) software-as-a- service (SaaS) market.
The new investors of its Series F round of funding including SoftBank Vision Fund 2, Goldman Sachs, Primavera Capital and Fidelity International. Meanwhile, some existing shareholders also re-upped in the new round, including Matrix Partners China, Sequoia Capital China, Genesis Capital, and Shenzhen Capital Group.
The proceeds will be used for product innovation, customer service improvement and talent recruitment.