WakeData closes USD10m Series B round co-led by Redpoint and Sequoia

Digital upgrade service provider WakeData has recently raised 10 million US dollars in a series B financing round led by Redpoint Ventures China and Sequoia Capital China, with participation from IDG Capital.

Digital upgrade service provider WakeData has recently raised 10 million US dollars in a series B financing round led by Redpoint Ventures China and Sequoia Capital China, with participation from IDG Capital.

Proceeds from this new round financing will be used for R&D investment in digital solutions, market expansion and digital ecology construction.

This is the third financing round since the establishment of WakeData. In November 2018, WakeData completed a pre-A round of financing of30 million yuan led by IDG Capital. In February 2019, WakeData raised tens of millions of yuan in Series A financing led by Sequoia Capital China.

WakeData is a digital upgrade service provider based on big data and artificial intelligence. It integrates customer operation and resource management data to provide digitally upgraded products and services for enterprises.

In May 2019, WakeData began to commercialize, providing closed-loop services to clients from business segments such as project delivery, products, and operations.

According to public information, WakeData’s team members come from SAP, Oracle, IBM, Cisco, Dell, BAT, Huawei, Meizu, Kingdee and other well-known Chinese and foreign Internet and IT companies. Their R&D talents account for more than 80% of total employees. Li Kechen, the firm’s founder and CEO, was the general manager of Meizu’s Flyme platform and tech expert at Alibaba Group.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/05/14/wakedata-closes-usd10m-series-b-round-co-led-by-redpoint-and-sequoia/.

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