117go, a Chinese trip journal and experience sharing service, has raised $20 million in Series B round from Softbank China Venture Capital (SBCVC).
The Shanghai-based company will use this fund to increase the user base and brand building.?Chief marketing officer Pu Minghui confirmed the investment to Tnooz this week.
Using 117go service, users can maintain their travel experiences in form of pictures and notes (organized by day), fellow users in the system will be able to search for trip journals, comment, like and share the content in social media. The service is also available for iOS and Android platforms.
The company?s competitor in China include Breadtrip ? recently it received $10 million in Series B round. Breadtrip was founded in 2012 and it has about ten million registered users.
Launched in late 2011, 117go has received three rounds of funding (excluding this Series B) ? In February 2012, it received an undisclosed investment from a local angel investor, in July 2012 it received a seven-digit investment from Redpoint Ventures, and in March 2013 the company received a seven-digit funding from Alibaba.
We have reached out to 117go for more information.
SBCVC?s other travel industry investments?include 8Trip, a China-based B2B online travel service that connects suppliers with sellers.
Source: China online travel journal service 117go raises $20 million, Tnooz http://www.tnooz.com/article/China-online-travel-journal-service-117go-raises-usd-20-million/ published Apr 28, 2014. Viewed Apr 29, 2014.