Hillhouse-backed cybersecurity firm ThreatBook secures $77m funding

Chinese internet security solutions developer ThreatBook has completed its Series E round of financing raising a corpus of 500 million yuan ($77 million) led by CITIC Group’s CITIC Private Equity Funds Management (CPE). 

The 8 billion yuan ($1.2 billion) V Fund re-upped in the current round, per a company statement on Wednesday.

The fresh round brings the funding garnered by ThreatBook within the past six months to 800 million yuan ($123 million). Earlier in September 2020, ThreatBook raised 300 million yuan ($46 million) in its Series D round from V Fund, CITIC Securities, CICC Capital, CICC Capital’s sub-fund CICC Jiacheng, and PE firm Skycus Capital.

ThreatBook is founded by Feng Xue, who served stints at Amazon China and Microsoft China.

Set up in 2015, Beijing-based ThreatBook has served a slew of state-owned conglomerates comprising State Grid, China National Petroleum Corporation, The State Information Center, Industrial And Commercial Bank of China and China Merchants Bank, besides e-commerce major JD.com, ride-hailing service provider Didi Chuxing, and smartphones developer OPPO. 

Promoter Feng Xue is the actual controller in ThreatBook owning a 12.8% stake, while Hillhouse is the second-largest shareholder with a combined 12% equity interest.

Hillhouse Capital had initially partnered with Northern Light Venture Capital and Crestvalue together investing 120 million yuan ($18 million) in ThreatBook’s Series B round in 2017. Two years later in 2019, Hillhouse had also participated in its 100 million yuan ($15 million) Series C round funding. 

ThreatBook’s majority shareholders also consist of Northern Light Venture Capital (5.99%), CICC Capital (2.46%), V Fund (2.44%), and CITIC Securities (1.72%). 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.