B5M, a Chinese independent shopping search portal, has raised a $16 million Series B investment round led by ClearVue Partners, with participation from existing backer Oak Investment Partners and others. As part of the transaction, William Chen, managing director of CVP, will join the B5M Board of Directors. The company has now raised a total of about $23 million in funding to date, including a 2012 Series A round led by Oak Investment that hauled in $7.1 million.
B5M is a comprehensive and unbiased shopping search portal across multiple vertical categories with hundreds of millions of business-to-consumer products, product and merchant reviews, group-buy deals, discount products and shopping-related Web articles. The company will use the new capital to accelerate its growth in China’s e-commerce market.