BaishanCloud (Baishan), a leading provider of cloud data services in China, announced today that it has completed its Series C+ round of private equity financing. This series is led by Guizhou Big Data Industry Fund, Galaxy Dingfa Investment under China Galaxy Investment, and Shenzhen Dewei Capital, followed by other existing shareholders and Jinsheng Capital as a strategic investor. In the meantime, Industrial and Commercial Bank of China (ICBC) formed a strategic partnership with Baishan through a combination of equity investment and banking facilities.
With the conclusion of Series C+, Baishan has completed a total of six rounds of private equity financing since its inception in April 2015.
As a fast growing cloud data service company in China, Baishan has maintained high business growth in the past three years, achieving a number of milestones with respect to its network scale, service scope, and customer base.
“That we are able to add additional high caliber investors further demonstrates our ability to maintain a high growth rate in a highly competitive market in China,” said Huo Tao, co-founder and CEO of Baishan. “As a technology driven company, Baishan will continue to enhance its investment in the areas of product and R&D for new data products to meet the arising needs of enterprises in their digital transformation,” he continued.
Coupled with rapid growth of its business, Baishan is becoming a leading driving force in the cloud data space in China, with its cloud service scope continuing to expand. In connection with the China International Big Data Expo last week, Baishan rolled out its flagship data service “Orchsym”, a product designed for enterprise customers for easy data security, data integration, and API management.
“There is a huge business potential for 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 Mr. Tian Guoqiang, head of Galaxy Dingfa Investment. “With a clear business strategy and product vision along with one of the strongest management team in place, the prospects of the company look very promising,” he added.