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Zhong Lun Law Firm Assisted SoftBank Vision Fund II in Successfully Investing in Beisen
Zhong Lun Law Firm Assisted SoftBank Vision Fund II in Successfully Investing in Beisen
According to the report of Sina Finance, on May 11, 2021, Beisen, a well-known Chinese integrated HR SaaS and talent management platform operator, announced the closing of Series F financing of USD 260 million, which was co-invested by SoftBank Vision Fund II, Goldman Sachs, Primavera Capital Group and Fidelity International, with follow-on investment from its existing shareholders Matrix Partners China, Sequoia Capital China, Genesis Capital and SCGC. This round of financing of Beisen is the largest one in its scale in the HR SaaS sector so far. After the closing of this round of financing, Beisen has become the enterprise with the largest financing scale and the highest valuation in this sector.
Zhong Lun Law Firm, as the PRC legal counsel of SoftBank Vision Fund II, provided legal support to SoftBank Vision Fund II for its investment in Beisen. The hosting partner of this project is Audry LI, and the key members of the project team include lawyers Grace Gao and Willow Liu.
According to public information, Beisen is a HR technology company, with the leading integrated HR SaaS and talent management platform - iTalentX, providing customers with cloud HR software, talent management technology and end-to-end integrated solutions for platforms. Beisen has been ranked No. 1 in HR SaaS market share in China for four consecutive years since 2016 (data source: international authoritative research institute IDC), and topped the lists in authoritative media for corporate service software or human resources technology for many times. Beisen has helped more than 6,000 medium and large companies, including 70% of China’s Top 500 companies, gain business promotion. In sectors such as Internet, finance, automobile, real estate, retail chain, manufacturing, and central & state-owned enterprises, Beisen has become a widely recognized business partner for leading companies in such sectors.
