Shanghai startup that combines Slack, Dropbox, and Trello raises $5M from IDG

Teambition, the maker of a cloud-based collaboration and project management tool, announced today it secured a US$5 million series A round of funding led by IDG and followed by Vangoo Capital.

The Shanghai-based startup is a mix of Slack, Trello, Flowdock, and Dropbox. Every new project gets its own home page where team members can add tasks, share files, arrange meetings, and post updates. It’s available on the web, Android, and iOS in Chinese, English, and Japanese.

“Teambition offers a total solution on project collaboration, as most US products focus on a single problem,” founder Junyuan Qi says.

The new round of funding will be used for further expansion, which includes Southeast Asia, along with development of new and existing products. For now, most of Teambitions customers are in China and Japan.

Teambition says its now home to over one million projects run by both startups and established enterprises. They span several sectors such as advertising, manufacturing, education, and more

It’s uncommon for a Chinese startup to aim globally from the outset. Qi says, “Some of our customers are big companies with branches globally. Only by entering the global market can we satisfy their needs.” He adds, “The global market is more mature in terms of enterprise markets.”

Teambition monetizes using a freemium subscription model, where customers with more than 100 projects pay a monthly fee.

The startup received a pre-A series investment led by Gobi Partners and was inducted into this year’s Microsoft Ventures Accelerator.

24-year-old Qi founded Teambition in 2011. He previously founded an online community for people with similar health conditions to communicate.

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