July 25th, 2016
BaishanCloud Announces Completion of Series B Private Equity Financing
[Beijing, July 25, 2016], BaishanCloud, a leading provider of cloud-managed services in China, announced today that it has completed its Series B of private equity financing. This series, led by Guian New District Development Fund (GNDDF), follows Series A and A+ investors, Shanghai Qingcheng Investment Fund and Shanghai Rongxi Investment Management Fund, respectively.
With the conclusion of Series B, BSC has completed three rounds of private equity financing within the short span of 12 months, during which its cloud- managed services have achieved considerable market traction within China. “We are happy to win the confidence of investors in our business. The capital will be used to continue to invest in R&D and product development,” said Huo Tao, co-founder and CEO of BSC. “The post-cloud market presents huge business opportunities and we hope to further enhance our R&D and product delivery capabilities to better serve the needs of our customers,” he continued.
“We have chosen to invest in BaishanCloud due to its demonstration of business implementation and execution capabilities,” said Lou Chun, general manager of GNDDF. “BSC business has grown rapidly in response to the rising needs for cloud services in China. The team has performed extremely well to quickly capture business opportunities,” he added.
About Guian New District Development Fund
Located in Guian, Guizhou Province, Guian New District Development Fund is a strategic investment fund for emerging markets. It was initiated and administered by Guian New District and approved by the State Council as a state district-level pilot. The total size of the fund is RMB 3 billion. Its investments focus on Big Data, Big Health, and new energy sectors through strategic direct investments or equity shares.