Quhuo, which provides workforce operations solutions for consumer service platforms in China, filed on Thursday with the SEC to raise up to $35 million in an initial public offering.
Quhuo was China's largest workforce operational solution platform by average monthly active workers in 2019. The company provides tech-enabled, end-to-end operational solutions to consumer service businesses. Quhuo has a presence in 73 cities across 26 provinces, and its customers include large enterprises in the food delivery industry like Meituan, Alibaba's Ele.me, and KFC; bike-sharing provider Mobike; ride-hailing provider Didi; and home rental platform Anxin Home.
The Beijing, China-based company was founded in 2012 and booked $289 million in revenue for the 12 months ended December 31, 2019. It plans to list on the Nasdaq under the symbol QH. Quhuo filed confidentially on September 4, 2019. Roth Capital, Valuable Capital, and Tiger Brokers are the joint bookrunners on the deal. No pricing terms were disclosed.
