China's BaishanCloud gets $50m Series C

It follows completion of a Series B of unspecified size in mid-2016. Previous investors include Guian New District Development Fund, Shanghai Qingcheng Investment Fund, and Shanghai Rongxi Investment Management Fund.

"The continued interest of investors in Baishan further illustrates their confidence in our business model and our ability to capture the market opportunities," Huo Tao, co-founder and CEO of Baishan, said in a statement. "Our sound business and financial performance over the past two consecutive years have laid a solid foundation for the company heading into 2018.”

Founded in 2015, Baishan specializes in data lifecycle management for corporate clients in the categories of cloud delivery, cloud storage, and cloud linkage. Revenue from these three service lines was said to have increased 300% during 2017. The company, which claims to be profitable since 2016, operates across offices in Beijing, Shanghai, Shenzhen, Xiamen, Guian, and Seattle.

Venture interest in Chinese cloud computing is largely underpinned by demand among small and medium-sized enterprises (SME) for more economic IT infrastructure options. Many domestic SMEs lack sufficient in-house IT support and must consequently outsource expensive technical operations to relatively cheap clouds.

Recent investment in this space includes a $152 million round for Shanghai-based Qiniu Information Technology led by Alibaba Group and Yunfeng Capital. Last year, Wuxi Huayun Data Technology Service, a server and storage infrastructure provider with a number of VC backers, raised a $220 million pre-IPO round.

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