Tiger Global, Carlyle lead $200m Series D round in China’s Sensors Data

Sensors Data, a Chinese provider of big data analysis and MarTech solutions, announced on Friday the completion of its $200-million Series D funding round jointly led by investment giants Tiger Global Management and Carlyle Group.

A large group of top-tier investors including Sequoia Capital China, Warburg Pincus, Bessemer Venture Partners, GGV Capital, Future Capital, DCM, Linear Capital, M31 Capital, Xiang He Capital, and 5Y Capital participated in the round. Fanzhuo Capital, an investment bank in China, served as the exclusive financial adviser to the deal.

Sensors Data was founded in 2015 by its current CEO Sang Wenfeng and CTO Cao Jiang, who were previously key members of the big data department at Chinese search engine firm Baidu. The Beijing-based startup leverages big data and user behaviour analytics technologies to provide clients with holistic MarTech solutions for customer management, business analysis, and marketing across all distribution channels.

Its solutions now serve more than 2,000 paying clients and 100,000-plus active users across over 30 sectors ranging from retail, finance, automobile to advanced technology, corporate service, and the Internet. Its business spans China and Southeast Asia, with local presence in cities like Shanghai, Shenzhen, Wuhan, Chengdu, Xi’an, and Taipei.

The new funding will help Sensors Data further increase investment in R&D and improve the capabilities of its pipeline of MarTech products across all use cases, such as the optimisation of its smart marketing engine and the construction of a one-stop MarTech platform.

Before the Series D round, Sensors Data closed $30 million in a Series C+ round led by Xiang He Capital in May 2020. Prior to that, it raised a $44-million Series C round led by Warburg Pincus in 2018 and an $11-million Series B round led by DCM in 2017.

Sensors Data is the latest growth-stage MarTech startup in China to secure a new investment, as fundraisers in the sector have grown more mature in recent years with the proportion of early-stage fundraisers reducing to 53.5% in 2020 from 85.4% in 2016. The average deal size in China’s MarTech market has gradually stabilised at over 100 million yuan ($15 million), as compared to its peak of 271 million yuan ($40.6 million) in 2017, according to consulting firm iResearch Consulting Group.

Some of China’s leading MarTech businesses have already gone public, such as Hong Kong-listed Weimob and China Youzan, as well as Shanghai-listed Raycloud Technology, all of which focus on providing marketing solutions and services to e-commerce merchants.

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