Chinese hotel marketing firm that leverages WeChat bags $50m in series D round

Vision Capital and CYTS Hongqi Fund led the new round, which also included participation from Axiom Asia, Sequoia Capital, Shunwei Capital, and Yijing Capital.

Founded in 2014, Zhiketong provides direct marketing services to high-end hotels and tourist spots through the Tencent-owned messaging service. These services include membership management, advertising, and data analysis, among others.

According to the report, Zhiketong currently serves over 17,000 hotels and attractions in China, generating 700 million yuan (US$105 million) in total monthly transaction value. Some of its clients include The Ritz-Carlton, St. Regis Hotels & Resorts, the InterContinental Hotels Group, Marriott International, Hilton Hotels & Resorts, Grand Hyatt, and Wanda Hotels and Resorts.

Zhiketong founder and CEO Hua Liu said the company plans to use the new capital to further improve its product and business, and help its clients boost their marketing efficiency. It also aims to have its clients’ total transaction value exceed 100 billion yuan (US$15 billion) by 2025.

The startup’s last round of funding was in 2019, when it secured 300 million yuan (US$45 million) in a series C round from CYTS Hongqi Partnership, Sequoia Capital China, Shunwei Capital, and Vision Plus Capital, among others.

Currency converted from yuan to US dollar: US$1 = 6.65 yuan.