BaishanCloud (Baishan), a provider of cloud data services in China, has completed its Series C of private equity financing, raising a total of $50 million. This financing series is led by Alpha Capital and Chunjia Capital, followed by new local strategic investors.
With the conclusion of Series C, BaishanCloud has completed five rounds of private equity financing since its inception in April 2015. As one of the fastest growing IT companies in China, Baishan has maintained its high business growth in the past two years, achieving a number of milestones with respect to its network scale, service scope, and customer base.
“The continued interest of investors in Baishan further illustrates their confidence in our business model and our ability to capture the market opportunities,” said Huo Tao, co-founder and CEO of Baishan. “Our sound business and financial performance over the past two consecutive years have laid a solid foundation for the company heading into 2018. The new capital will be invested to further enhance our service capability.”
Beijing, Seattle, Shanghai
In a highly competitive cloud services market in China, Baishan would have delivered solid financial performance two years in a row, with an increasing number of Internet and enterprise customers adopting its cloud data services. The company became profitable in 2016, eighteen months after it went into operation and has been profitable since. Total revenues from all three Baishan product lines in 2017 achieved 300% increase over the previous year.
Founded in April 2015, BaishanCloud has offices and R&D centers in Beijing, Seattle, Shanghai, Shenzhen, Xiamen and Guian.