ClearVue Leads $16M Series B Round In Chinese Shopping Search Portal B5M

Shanghai-based Chinese shopping portal B5M says the company has raised US$16 million of series B financing.

ClearVue Partners led the round. Oak Investment Partners and several new angel investors also participated.

In 2007, the company raised US$7.1 million financing from Oak Investment Partners in series A round.

William Chen, founding managing partner of ClearVue, will join B5M’s board of directors.

B5M says it will use the proceeds for the website research and development, marketing and sustainable innovation.

Launched in December 2011, B5M, which stands for "help to shop" in Chinese, says it sends 30 million Chinese consumers each month to around 6,000 e-commerce sites.