Chinese tech company Tencent, developer of online messaging apps like WeChat and QQ, has shown interest in Shanghai-based corporate collaboration startup Teambition. The startup was founded as a software-as-a-service (SaaS) enterprise management tool which can be used internally by corporations. The company eventually evolved to become a product and has worked on up to one million projects.

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According to Giz China, Teambition provides mobile apps for iPhone and Android devices. The company is known for providing to-do list management, sharing, calendars, file folders, and review functions.

Teambition was founded in 2013. During its early venture fund raising, the firm was able to raise $5 million from Gobi Partners. In subsequent funding campaigns, Teambition was able to receive backing from notable venture funds like IDG Capital Partners, Microsoft Ventures, and Vangoo Investment Partners.

In September 2015, Teambition announced the completion of a $12 million series B funding round. The series of funding was led by Northern Light Venture Capital, with participation from existing investors as well.

Tencent has not disclosed the financial details of its investment towards Teambition. Because of this, market analysts are unable to determine how much Teambition has grown, or whether prior investors were diluted due to the investment from Tencent.

Teambition currently operates in seven cities in China and counts Shanghai as its home base. The company's products are widely distributed and are available in five languages.

Meanwhile, Tencent has overtaken fellow Chinese tech company Alibaba as the country's biggest tech company. According to BBC, Tencent is currently valued at $249 billion, while Alibaba is valued at $246 billion.

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