Mother-focused social network operator Lamabang, backed by investors including VIPshop, has now raised about $130m in overall funding.
Lamabang.com, a China-based social networking service aimed at mothers and mothers-to-be backed by e-commerce company VIPshop, raised $100m in series C funding on Thursday.
Matrix Partners China, Greenwoods Asset Management and Morningside Ventures all invested in the round. China Money Network reported VIPshop led the round, though the company was not mentioned in Lamabang’s announcement of the funding.
VIPshop previously participated in Lamabang’s $20m series B round in July 2014, alongside Greenwoods, Morningside, Matrix and K2 Ventures. The social network operator secured $10m from Morningside, K2 and Matrix in a 2012 series A round.
The latest round valued Lamabang at $1bn. Lamabang’s base of users spans from women from wanting to have children through to those going through the stages of early motherhood.
The network, which links to e-commerce services also operated by Lamabang, had accumulated more than 20 million registered users at the time of the company’s series B round.
– Image courtesy of Lamabang