Qingyun Tech Completes Hundreds of Millions RMB Series B and B+ Financing, Establishing an 'Ecosystem Closed-loop' in Pharma Marketing Solutions

VCBeat has learned that Qingyun Technology, an AI-powered full-stack digital marketing platform for the pharmaceutical industry, recently completed its Series B and Series B+ financing rounds. The Series B round was led by Ali Health, with continued participation from Long Hill Capital, the lead investor in the previous Series A round. Other investors included LYZZ Capital and Life Capital, which had participated in the Pre-A round. The Series B+ round was invested by IDG Capital.Qingyun Technology will primarily use the proceeds from this financing round to expand its core business and supplement part of its daily working capital. Life Capital served as the exclusive financial advisor for this financing round.

Shanghai Qingyun Pharmaceutical Technology Co., Ltd. was established in 2017 and is an AI-driven digital marketing platform company focused on the pharmaceutical industry.

As one of the earliest innovative technology companies in China to deploy virtual representatives, Qingyun Technology offers a multi-channel digital marketing integrated solution. Leveraging profound, comprehensive, and multi-layered insights into healthcare institutions and physicians, and empowered by artificial intelligence and deep machine learning, the solution precisely delivers high-value, highly relevant medical knowledge. Beyond providing precise academic content, Qingyun Technology’s virtual representatives deliver services to physicians at optimal times and within extremely granular scenarios. Through close interactions, the platform fosters sustained, positive communication between pharmaceutical enterprises and physicians. Physician feedback, in turn, fuels the continuous iteration of technology and services, enabling rapid responses to the evolving pharmaceutical landscape and clinical needs. This approach constructs an “ecological closed-loop” marketing solution that is real-time, intelligent, and platform-based, applicable across diverse scenarios.

Qingyun Technology’s full-stack digital AI marketing service is a solution that truly achieves integration and synergy across all marketing channels. In addition to the novel remote academic promotion model centered on virtual representatives, it includes targeted multi-channel marketing in collaboration with field representatives, physician communities, and online learning platforms. This approach expands brand influence, enhances customer experience, improves marketing conversion rates, and addresses pharmaceutical marketing needs across different product life cycles, ultimately benefiting both physicians and patients.

Qingyun Technology currently serves nearly 400,000 primary care physicians and has established partnerships with approximately 40 pharmaceutical companies. These include more than 30 multinational pharmaceutical firms such as MSD, Merck, Pfizer, AstraZeneca, Novartis, and Boehringer Ingelheim, covering therapeutic areas including cardiovascular diseases, respiratory conditions, vaccines, urology, and oncology. The company’s annual business growth rate exceeds 150%. Qingyun’s core team comprises senior executives from leading domestic CSO (Contract Sales Organization) enterprises, major Chinese pharmaceutical commercial distribution companies, and the digital marketing divisions of multinational pharmaceutical firms. This professional management team possesses in-depth expertise in pharmaceutical companies’ needs, the evolution of China’s pharmaceutical market, policy trends, and industry risks. Since 2021, backed by strong support from the capital market, the company has experienced rapid development, with its team size exceeding 300 employees.

Yan Guowei, Founder of Qingyun TechnologyHe stated, “We extend our sincere gratitude to all institutional investors for their support and recognition of Qingyun Technology. Over the past four years, Qingyun Technology has evolved into a technology-driven marketing platform that deeply integrates virtual and field medical representatives, establishing stable connections with a broad base of frontline physicians. With artificial intelligence at its core, the company drives the in-depth application of digital technologies in pharmaceutical marketing. Looking ahead, Qingyun Technology will continue to prioritize the practical needs of the physician community, delivering high-value, precise academic content and personalized online and offline engagements. In doing so, we aim to meet physicians’ clinical and academic needs while ensuring that more high-quality pharmaceutical products benefit patients across China.”

IDG CapitalPartner Wang Xin stated, “Internet-based virtual representatives align with major macro trends, enabling broad reach to the physician community and efficient delivery of professional information. As a leading company in the virtual representative sector, Qingyun has maintained deep and sustained relationships with numerous pharmaceutical companies. The founder has been deeply engaged in the pharmaceutical industry for many years, possessing extensive industry experience as well as outstanding team-building and organizational capabilities. Currently, Qingyun has achieved rapid growth amidst transformation; looking ahead, we are optimistic about Qingyun’s development potential.”

Long Hill CapitalManaging Partner Jiang Xiaodong stated, “China’s pharmaceutical market is brimming with significant opportunities amid environmental shifts. With the implementation of cost-containment measures such as Volume-Based Procurement (VBP) and national reimbursement drug list negotiations, innovative digital marketing strategies have become essential tools for pharmaceutical companies in their product promotion efforts. By integrating online resources with offline representatives, Qingyun Technology has established extensive influence in the primary healthcare sector. This will help primary care physicians gain a more comprehensive understanding of the clinical value of medications, thereby enabling more precise medication use for patients at the grassroots level. In the future, we will continue to collaborate with Qingyun Technology, striving to secure greater benefits for primary care patients regarding medication access and affordability.”

Life CapitalManaging Director Zhang Boyuan stated, “China’s digital transformation of pharmaceutical sales is still in its nascent stages. Amidst this trillion-yuan market opportunity, breaking away from traditional models and establishing efficient, technology-driven digital solutions requires a team with extensive industry experience, strong learning agility, the vision to drive rapid business growth, and the pragmatism to advance operations with strict adherence to regulatory compliance. Such teams are highly scarce, and Qingyun embodies exactly this caliber. As the exclusive financial advisor for Qingyun’s current funding round, Life Capital is highly optimistic about Qingyun’s future and looks forward to partnering with Qingyun to foster the robust development of the digital pharmaceutical sales industry.”

Alibaba Health (00241.HK) is the flagship platform of Alibaba Group’s “Double H” strategy (Health and Happiness) in the healthcare sector and is one of the companies invested in and controlled by Alibaba Group. User-centric, Alibaba Health promotes pharmaceutical e-commerce and new retail businesses through an omni-channel approach, while providing integrated online-to-offline comprehensive solutions for the healthcare industry. This aims to achieve cross-regional shared allocation of existing social medical and health resources, significantly improve the convenience of medical consultation and medication purchase for patients on the basis of ensuring professional safety, and meet consumers’ pursuit of a healthy lifestyle. Currently, Alibaba Health’s business operations are primarily focused on pharmaceutical e-commerce, medical and health services, digital infrastructure, and smart healthcare.

IDG Capital pioneered venture capital operations in China in 1993 and is a leading global private equity investment firm. After nearly three decades of development, the firm’s business now spans Europe, the United States, and the Asia-Pacific region. It currently maintains offices in 13 cities across five countries, including New York, Boston, London, Beijing, Shanghai, Hong Kong, Seoul, and Hanoi, with total assets under management exceeding RMB 150 billion. IDG Capital focuses on leading enterprises in sectors such as Technology, Media, and Telecom (TMT), new consumer goods and services, culture and entertainment, healthcare, advanced manufacturing, and clean energy. Its investment scope covers all stages, from early-stage and growth-stage to mature-stage companies, as well as mergers, acquisitions, and restructurings, with investment sizes ranging from millions to hundreds of millions of U.S. dollars. To date, IDG Capital has invested in more than 1,000 outstanding companies worldwide, over 200 of which have successfully exited through Initial Public Offerings (IPOs) or Mergers and Acquisitions (M&A) in the capital markets of the United States, Europe, and China.

Long Hill Capital, established in 2016, is a new generation of theme-driven venture capital fund. The founding partners of Long Hill Capital come from NEA (New Enterprise Associates), one of the largest venture capital funds in the United States, and were responsible for NEA's investments in China from 2005 to 2015.

In the fields of general health and aging, Long Hill Capital is dedicated to investing in technology-driven business model innovations, aiming to make longevity a gift of life for every individual in China’s rapidly aging society. With offices in Shanghai and Beijing, Long Hill Capital currently manages assets totaling RMB 6 billion. Its limited partners include premier institutional investors such as endowment funds from globally renowned universities and hospitals, foundations, pension funds, and top-tier funds of funds.

LYZZ Capital, established in 2014, is a private equity investment firm specializing in the healthcare industry. It currently manages three funds denominated in US dollars and RMB, with total assets under management nearing RMB 4 billion. LYZZ Capital invests globally in ventures founded by outstanding entrepreneurs, high-quality assets, and advanced technologies, with a particular focus on addressing unmet medical needs and tapping into the significant market potential in China. Its portfolio includes industry-leading and innovative companies such as Chipscreen Biosciences, Chentai Pharmaceutical, Neurelis, Wugen, MicroPort Diabetes Care (WeTai Medical), TianGuangShi Biologics, Hanyu Medical, Qingyun Technology, Nuomai Medical, Qpex Biopharma, and Jumpcode. Leveraging its expertise and global network, LYZZ Capital adds value to its portfolio companies, helping them develop innovative therapies for unmet medical needs and become internationally recognized innovators.

Life Capital is committed to its mission of “Empowering Leaders in the Healthcare Industry.” As a leading financial services institution in China specializing in the broader healthcare sector, it offers investment banking and venture capital services. Its team comprises professionals from renowned investment banks, academic institutions, and healthcare companies, bringing decades of expertise in healthcare and investment and financing. Over the past few years, the team has completed dozens of financing and M&A transactions in the healthcare industry, with a cumulative value reaching tens of billions of RMB. These transactions span various subsectors, including new drug development, medical devices, diagnostics, consumer healthcare, healthcare services, smart healthcare, and health insurance.

In the China Financial Advisory Firm Rankings hosted by Qiming Technology, a financial big data institution, Life Capital was selected as one of the Top 3 financial advisory firms in the healthcare sector. At VCBeat’s Future Healthcare 100 event, Life Capital was named “Healthcare Financial Advisory Firm of the Year.”