Northern Light Leads $12M Series B Round In Teambition

Shanghai-based Teambition, a cloud-based collaboration and project management tool, has completed US$12 million series B round of financing led by Northern Light Venture Capital.

Existing investors IDG Capital Partners, Vangoo Investment Partners and Microsoft Ventures also participated, according to a news article posted on the company’s website.

Founded in 2013, Teambition completed US$5 million series A round from IDG and Vangoo in December 2014.

The company currently operates services in seven Chinese cities, and its products are available in five languages.