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Investment, Venture Capital

Fosun Kinzon, IDG Lead Financing In China Mobile Marketing Firm ZMT Zhongmeng

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Fosun Kinzon Capital and IDG Capital have led a series B round worth hundreds of millions RMB in ZMT Zhongmeng, a Beijing-based mobile marketing solutions provider.

Beijing-based Jingsheng Technology Co., Ltd. also participated in the round, according to Chinese state media reports.

Founded in 2015, ZMT Zhongmeng provides mobile marketing solutions based on big data, covering a dozen of fields including life services, automobile, real estate, education, healthcare, finance, and tourism.

It targets small and medium businesses in tier two and tier three cities in China. The company has over 70,000 paid clients including automobile platform Bitauto.com, Sichuan-based hotpot restaurant Haidilao, and Beijing-based Wanda Cinemas.

“Big data means big future. The supply of big future means data and flow, the Internet industry is transforming from computer to mobile, and the demand is the mobile Internet marketing demand transferred from computer Internet,” said Zhang Haitao, board member of IDG Capital. “ZTM Zhongmeng grasped the opportunity of the strong demand and low marketing efficiency, and this is creating the future.”

The company previously raised an undisclosed series A round from JD Capital and Fosun Group last year.

It plans to use the latest proceeds to focus on improving its big data technology and products, and provide better big data services for small and medium enterprises.

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