Shebaotong
Shebaotong provides social security, provident fund, commercial insurance, salary services, labor cost optimization and other services.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
* | CNY270m | Series C | |
| Total Funding | 000k | ||
| CNY | 2021 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Company filings or news article
Shebaotong, operating under the corporate entity Shanghai YunSheng Future Technology Group Co., Ltd., is a human resources service company that originated in Shanghai in 2014. The company was founded by CEO Li Xianwei, who embarked on his entrepreneurial journey in the social security services sector during his sophomore year in college, accumulating over a decade of experience before establishing Shebaotong. The firm targets the B2B market, providing services to a diverse client base that includes over 2,000 companies, of which more than 200 are large or publicly listed enterprises.
The company's core business revolves around a SaaS platform that streamlines human resources management for businesses. Shebaotong's primary service offering is an online platform for managing social security and housing provident fund contributions, commercial insurance, and payroll services. This platform is accessible via a web portal and a mobile WeChat application, enabling clients to handle contributions, claims, transfers, and billing. The business model generates revenue through service fees for outsourcing HR functions and subscription fees for using its suite of tools. For instance, the company offers tiered annual membership plans for its small business, enterprise, and payroll services.
Shebaotong has expanded its product line to include "Ruzhitong" for managing employee onboarding and offboarding processes, "Xinzitong" for payroll and tax declaration, and "Pubaotong" for commercial insurance solutions. A key feature of their platform is the shift from a traditional monthly "billing system" to an "order system," which allows for real-time, flexible processing of social security contributions, reducing the risk of coverage gaps for employees. The platform also provides a consolidated financial statement, offering clients a comprehensive and instantly updated overview of their national labor costs. The company has secured multiple rounds of funding from notable investors including Zhen Fund, Vision Plus Capital, and RECRUIT Group, which has supported system upgrades and network expansion.
Keywords: human resources, SaaS, social security, payroll services, HR outsourcing, corporate services, employee benefits, B2B, insurtech, fintech