Dianping.com, a Chinese daily deals and local reviews site that is often compared to US-based Yelp, has raised over $60 million in new funding, the company announced today according to a report from Tech In Asia.
The money was raised in Dianping’s fourth round of funding, after securing $100 million in the previous one. The company’s investors include the likes of Sequoia Capital, Lightspeed Venture Partners and Trust Bridge Partners.
According to Tech In Asia, Dianping will use the new round to double down on its mobile business and general business development.
Aside from publishing hard-hitting reports, Dianping runs a successful consumer review site for restaurants, shops, service providers and whatnot, and also offers e-marketing solutions, a daily deals and a group buying platform for local Chinese businesses looking to advertise or sell online.
As of Q2 2012, Dianping claims more than 48 million monthly active users and over 20 million reviews, and says it serves more than 1.5 million local businesses covering approximately 2,300 cities across China. Its mobile apps boast more than 33 million unique users, the company says.
The company was founded in 2003 by CEO Tao Zhang and is headquartered in Shanghai.