Terms of the investment were not disclosed, but Gridsum said that the cash would be used to “accelerate the distribution” of its analytics products in China and the US.

Steamboat Ventures’ Perry Chui said: “Gridsum’s game-changing solutions are providing companies of all sizes with a proven model that will help them optimise their sales and marketing strategies in today’s increasingly fragmented environment.”

The firm’s client list includes Microsoft, Coca-Cola and Chinese firms Shanghai Media Group and China Central Television.

Gridsum founder and CEO Guosheng Qi added: “The Steamboat Ventures team brings world-class media and consumer technology experience, and we look forward to leveraging their experience as we continue to grow our business.”