China consumer data analysis business gets $20m Series A

The company was founded in 2015 and received $2.2 million in seed funding from Matrix, NEA and Greylock. It is working on a new generation of data analysis products that help companies track consumer behavior in order to optimize user experience and drive efficiencies and revenue growth.

GrowingIO noted in a blog post that traditional data analysis tools assess performance based on page views, active users, new registered users, transaction volume and payments. The company seeks to take analysis a step further, monitoring consumer activity in real time across multiple criteria, giving clients a more sophisticated understanding of their customers.

"We are the leading global data analysis and technology business to put down roots in China and we hope domestic internet start-ups can be like the Silicon Valley internet giants and experience data-driven growth, so that every project manager, operations professional and engineer can benefit from GrowingIO and find value in real-time data," Ximeng Zhang, the company's CEO and co-founder, said in a statement.

He added that GrowingIO's platform can help internet start-ups save 60% of their costs in this area because it enables collection of a comprehensive set of data without the participation of engineers. The company claims to have over 1,000 customers, including online peer-to-peer lending service Renrendai, online retailer Vipshop, cloud services provider Beisen, and recruitment platform Hunteron. About 100 of these are paying customers.

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• Topics
• Greater China
• Technology
• Early-stage
• Venture
• New Enterprise Associates
• Greylock Partners
• Matrix Partners
• China