Matrix Partners China, NEA and Greylock Partners have invested US$20 million in a Chinese business data analytics start-up GrowingIO, the company announced today.
Established in May 2015 with founding members from LinkedIn and eBay, GrowingIO provides easily installed software to companies for the purpose of collecting key data about their businesses.
"Understanding user behavior is critical in driving marketing and sales for Internet companies," says company founder Zhang Ximeng. "Several companies with similar business models in the U.S. have turned into unicorns."
The company received US$2.2 million angel investment from Matrix, NEA and Greylock last August. The latest financing is the company’s series A round.
Zhang led a team to help grow LinkedIn’s revenue to US$2.5 billion in 2014 from US$60 million in 2010, using the type of data analytics tools his company now offers, says the announcement.