NewQuest joins $31m round for China video cloud player
Asia-dedicated secondaries investor NewQuest Capital Partners has participated in a RMB208 million ($31 million) Series C round for Bokecc.com, a China-based company that offers video cloud computing solutions.
Two domestic PE firms Jiawo Capital and Silk Road Huachuang Investment also took part in the round.
Founded in 2005, Bokecc provides network video services to more than 18,000 Chinese companies across the education, media, and internet industries, in addition to government agencies. It claims to have built a strong presence in the education cloud services space, with a more than 70% domestic market share.
The company received an undisclosed sum in Series A funding from IDG Capital in 2007. Four years later, it raised $20 million in a Series B round led by Steamboat Ventures, a VC fund affiliated to The Walt Disney Company. Jiangsu High-Tech Investment and IDG also participated, alongside IDG Capital.
With the new investment, Bokecc will accelerate its video cloud deployment, hiring more staff and upgrading its cloud computing technology, the company told a local press conference.
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