Baoku, a SaaS-led corporate travel and expense management solutions provider in China, has raised nearly $10 million in Series A investment.
The round was led by China Broadband Capital (CBC) and Asiainfo-Linkage, a Beijing-based telecommunication software company.
On the global stage, Beijing-based Baoku's service could be compared to Concur and other expense management providers and platforms.
Similar services of Baoku in the APAC region include Singapore-based company Tripconomics.
Founded in 2007, Baoku currently has more than 2,000 customers in China, its travel industry customers include Hainan airlines, Air China, Shenzhen airlines, Swire travel, Super 8 Hotel, and Shangri-la hotels and resorts.
By deploying Baoku solutions, the company can help its customers reduce their cost by about 20-50%, claims the company.
CBC's other travel industry investments include Chinese outbound travel service ByeCity, Beijing-based car rental booking service Yongche, and travel experience sharing service Breadtrip.