China's BaishanCloud gets $37m Series C-plus

The round was led by Guizhou Big Data Industry Fund, Galaxy Dingfa Investment, Shenzhen Dewei Capital, Jinsheng Capital, and multiple unnamed existing investors. Separately, Industrial & Commercial Bank of China (ICBC) has also provided a combination of equity investment and banking facilities.

Founded in 2015, Baishan specializes in data lifecycle management – covering cloud delivery, cloud storage, and cloud linkage – for more than 450 clients, including Microsoft, CCTV, Wanda Group, GGV Capital, Xiaomi, Baidu, and Bilibili. It has offices in Beijing, Shanghai, Guangzhou, Shenzhen, Xiamen, Guian, and Seattle.

The company plans to invest in the development of new data products to meet the needs of companies undergoing digital transformation. "There is a huge business potential for the enterprise sector in China. Baishan's first mover advantage and its innate innovation capability serve as the two key considerations for our investment decision," said Guoqiang Tian, head of Galaxy Dingfa, in a statement.

Investor 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.

BaishanCloud’s Series C round, which closed in January, was led by Alpha Capital and Chunjia Capital. It followed 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.

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