JD Finance Leads $30M Investment In IDG-Backed Microseer

JD Finance has led a US$30 million strategic investment in Shanghai-based human resources and IT outsourcing services start-up Microseer, the company announced in Beijing today.

Founded in 2009, Microseer develops cloud-based software as a service (SaaS) human resources and IT outsourcing solutions, including salary payment, recruitment, social security management, work evaluation services, for small and medium sized enterprises.

The company claims to have served over four million employees in 68,000 companies in China.

Microseer previously raised an undisclosed series A funding round from IDG Capital Partners and other Chinese investors.

It will use the latest proceeds on market expansion, product improvement and brand enhancement.

In other venture deals in SaaS human resources start-ups, Sequoia Capital China joined a RMB100 million (US$15 million) financing round in Joyowo.com, a Hangzhou-based online human resources service firm.

JD Finance, the Internet financial services arm of e-commerce firm JD.com Inc., is itself backed by investors including Sequoia Capital China, China Harvest Investments and China Taiping Insurance.