China's 360 Enterprise Security raises $180m pre-Series B

The company didn't reveal any of the investors but said it has achieved a valuation of RMB18.75 billion after four funding rounds, including a Series A that featured Alphax Partners. It expects to close the Series B in the near term.

The company was founded in 2015 by parent Qihoo 360, a Chinese security software developer that was taken private in 2016 from NASDAQ in a $9.3 billion deal and listed in Shanghai in 2018. 

Qihoo spun out 360 Enterprise Security as an independent unit citing differences in business focus. Xiangdong Qi, a former president and director at Qihoo and currently the president of 360 Enterprise, holds a 28.86% stake in the latter, followed by Qihoo with 23.61%, according to Chinese corporation information provider Tianyancha.

360 Enterprise Security provides customized security solutions and software to government bodies, internet companies, financial institutions and state-owned enterprises. It claims to have served more than one million corporate clients, including China Securities Regulatory Commission, China National Petroleum Corporation, Sinopec, and Agricultural Bank of China.

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• Topics
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