The round saw co-investments from Sequoia Capital China, DCM Ventures, Xiang He Capital, Morningside Venture Capital, Linear Venture and Future Capital. The startup will use the fresh funds to invest more in product R&D, market scaling and professional services, it said in a statement.
Founded in April 2015 by a group of ex-BAT founders, the startup focuses on providing user behavior data analytics platform and insights to enterprise clients. Its core product, Sensor Analytics, helps enterprise customers to conduct data collection, modelling, analysis, and provides a flexible PaaS platform.
“At Sensors Data, we believe deploying the product only unlocks 20 per cent of the core value to our clients. Our unique strength lies in our ability to continuously serve and provide insights to our customers, to achieve data-driven targets, across their entire life cycle,” Wenfeng Sang, Founder and CEO of Sensors Data, said.
The startup claims to serve over half of the top 50 corporates in each major vertical such as finance and retail, besides others. Among the company’s 500+ corporate customers are China Unionpay, China Telecom, Baidu Video, China Youth Travel Service, China Pacific Insurance, Bailian Group, Wanda Group, and Haier.
Gordon Ding, Managing Director of Warburg Pincus, said, “Worldwide data generated will reach 44 trillion GB by 2020, which will drive an immense demand for data-related storage, processing, analysis and applications. Our study shows Sensors Data’s customers exhibit a high level of stickiness, as over 40 percent of customers use Sensors Analytics in multiple departments every day.”
Sensors Data raised its angel-round of financing in March 2015, which was followed by Series A financing of $4 million in April 2016 led by Sequoia Capital China, with participation from angel investors including Linear Venture, Future Capital and individual investor Manzi Xue. It raised $11 million in Series B funding round in March 2017 led by DCM Ventures, with co-investment from Sequoia Capital China.
Some of the other Chinese big data companies to receive funding recently include big data, AI-based risk management startup IceKredit that raised $25 million in pre-Series B financing round, led by YOOZOO Network. In January, BusinessBigData reportedly raised a $18.8 million Series C from Smallville Capital.