China's NextData raises $135m Series D
NextData, a China-based cybersecurity services provider, has secured $135 million in Series D funding led by CPE, Matrix China Partners, Hopu Investment, Tencent Holdings, and Xiang He Capital.
The company said that several other new and existing investors took part, without giving any names. Tencent and Xiang He led the $73 million Series C in early 2020, which also featured Shunwei Capital, Crystal Stream Capital, and Baidu Ventures. AVCJ Research has records of Shunwei, Crystal Stream, Baidu, and Qihoo 360 Technology committing $10 million to NextData in 2017.
Founded in 2015 and also known as Shumei Technology, the company uses artificial intelligence (AI) and big data analytics to provide corporate clients with anti-fraud and risk control services such as fingerprint recognition and image-based and mobile phone-enabled verification.
NextData's offering is underpinned by a full-stack, real-time intelligent risk control engine that covers smart verification codes, registered login protection, fraudulent marketing detection, equipment risk protection, payment risk controls, and prevention of content theft. It operates across more than 10 industries, among them financial services, aviation, e-commerce, real estate, media, and education.
The company claims to have protected more than three billion users and five billion pieces of equipment globally, while intercepting over 60 billion cases of suspicious behavior. It has reduced the cumulative cybersecurity-related losses of customers by more than RMB100 billion ($925 million).
Customers include real estate developers Wanda Group and Longfor Properties, short video and streaming platforms YY, Douyu, Bilibili, and iQiyi, social networks Little Red Book and Blued, and e-commerce players Mogujie and Boqii, tutoring business VIPKid, and Suning Bank.
"In the current climate of high cyber risks, there are huge risks for the development of the digital economy," Tang Huijun, founder and CEO of Sumitech, said in a statement. "Following this new funding round, NextData will continue to increase R&D investment and product innovation, enabling high-quality development of the online economy."
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