China cloud computing business Huayun Data raises $220m

Investors in the round were not disclosed but local media previously reported that the company raised about RMB1 billion in December for a pre-IPO round from Kingdom Capital, Haitong Securities, Orient Securities, Far Eastern Group, Shan Shan Investment and others.

Following the investment, Huayun Data will scale up its business and upgrade its corporate image - including branding and diversifying product distribution channels - in preparation for a public listing, it told in a news conference.

Huayun Data, also known as Chinac.com, operates commercial cloud computing infrastructure and provides cloud-based IT solutions and outsourcing services - including servers and storage - for domestic and global corporate clients. The company operates 20 data centers in 15 cities, with more than 10,000 physical server cluster.

Its customers are software-as-a-service providers, platform-as-a-service providers, traditional software development companies, and internet players.

AVCJ Research’s records show that Huayun Data has previously raised four rounds of funding. Yonghua Capital invested in 2011, while Intel Capital and SIG China committed $50 million in 2014. The company then raised $100 million from Haitong Capital, a PE arm of Haitong Securities, in 2015, and RMB500 million from Tongkong Investment. Haitong Capital also re-upped in that round.   

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• Topics
• Greater China
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• Expansion
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• China
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• Growth capital