Guangzhou Quwan Network Technology, developer of Chinese chat service TT Voice, announced that it has raised a $100M USD Series B financing round led by venture capital firm Matrix Partners China with additional participation of investment fund Orchid Asia and others.
TT Voice is considered the Chinese equivalent of U.S.-based multi-function chat app, Discord. In December of 2020, Discord raised a $100M Series H investment led by its existing investor Greenoaks Capital, valuating the company at $7B.
Compared with Discord, TT Voice is deeply involved in the Chinese esports industry as a team owner of two franchises competing in the largest Chinese esports franchise leagues, the League of Legends Pro League (LPL) and the Honor of Kings King Pro League (KPL). In 2020, TT Voice acquired KPL team XQ and LPL team Dominus Esports, and rebranded to TTG.XQ and TT, respectively. In addition, TT Voice is also one of the LPL’s official partners.
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