Mai Mai, China’s biggest rival to LinkedIn, has revealed today that it received a $200 million U.S. series D investment. The company confirmed that the investment was finalized in April.

Mai Mai claims that the round is the largest single investment in the professional networking market to date, globally. LinkedIn went public in 2011 and was bought by Microsoft for $26 million U.S. in 2016, but it raised just more than $150 million U.S. from investors as a private company.

In May, company founder and CEO Lin Fan revealed that Mai Mai is currently in the build-up to a 2019 IPO. The company’s funding goal for the IPO is an incredible $10 billion U.S., Zhaopin CEO Evan Guo (LinkedIn profile) told 36kr.com. Zhaopin led Mai Mai’s series C funding round, earlier this year. 

Global venture capital firm DST led the series D round, which included participation from existing investors IDG, Morningside Venture Capital, and DCM.

The new capital takes Mai Mai to $300 million raised from investors, according to CrunchbaseCaixin reports that the valuation of the company is more than $1 billion, which would see the firm enter the global unicorn club.

Beyond the fundraising, the firm also disclosed that it plans to invest 1 billion RMB (around $150 million U.S.) over the next three years in a career planning program that it launched in partnership with more than 1,000 companies. Those partners include global top-500 firm Cisco and Chinese companies like Fashion Group and Focus Media.

Launched in the fall of 2013, Mai Mai is aimed particularly at business people as a platform to connect professional workers and offer employment opportunities. The service now claims more than 50 million users. 

Additional reporting: TechCrunch

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