AVCJ

SK Telecom leads Series C for China cloud services player

  • Larissa Ku
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Bespin Global, a Seoul and Beijing-based cloud management services provider, has raised RMB530 million ($74.6 million) in a Series C round from SK Telecom and existing investor DY Holdings.

The company has now received more than RMB1.3 billion in private funding. This included a $15 million Series A led by Legend Capital in 2017 and a $27 million Series B led by ST Telemedia the following year. Several months later, DY led a Series B extension of KRW87 billion ($71 million), according to AVCJ Research.

Bespin describes itself as a multi-cloud and hybrid cloud management service provider (MSP). It has partnered with Amazon Web Services (AWS), Microsoft Azure, Alibaba Cloud, Huawei Cloud and Google Cloud, serving more than 700 customers across 12 industries. The company was named by Gartner as one of the top 10 global cloud MSPs in 2020.

As companies move their IT infrastructure to the cloud, they often rely on MSPs for smooth implementation. MSPs help identify the best cloud management strategies and also tackle operational risks and cyber-security issues. While some MSPs only migrate customers to one of the main cloud providers, there is increasing demand for hybrid solutions. 

Gartner said in May that as COVID-19 promotes the adoption of telecommuting, China’s public cloud services and other segments are expected to grow 19% this year.

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