Chinese APM service platform Tingyun raises $57m in Series C round 

Photographer: SeongJoon Cho/Bloomberg

Tingyun, an application performance management (APM) service platform managed by Beijing NetworkBench Inc, has raised 400 million yuan ($57 million) in a Series C round of financing, as per a company statement on Monday.

The round saw participation from new investors CICC Capital’s sub-fund CICC Fengtai, China Universal Asset Management Company Limited, GF Securities’ GF Qianhe, and Shenzhen-based Mangrove Capital, among others.

Returning investor Plum Ventures also participated in the round. Plum Ventures along with TMT-focused (technology, media, telecom) Geek Ventures had made a strategic investment in Tingyun in 2014.

Going forward, Tingyun will provide more innovative products and solutions to help digital transformation for enterprises, the statement said.

Launched in 2007 in Beijing, Tingyun specialises in developing applications for companies to conduct algorithmic IT Operations (AIOps) on mobile, on servers, and on the web. It supports enterprises to maximise user-friendly experiences through cloud-based IT infrastructure including Tingyun APP, Tingyun Server, and Tingyun Browser.

Tingyun has been profitable since 2018, the company claims. The company has served “tens of millions of clients” in government administration, finance, operator, internet, aviation, energy and power, manufacturing and education, it said.

“With the dramatic development of consumption and industrial internet, the imperative of AIOps is increasing,” said Shulin Liu, managing director, CICC Capital. “We are positive regarding the future innovation of IT operation management (ITOM), and also believe that Tingyun can provide much more software-as-a-service (SaaS) solutions for Chinese companies.”

Tingyun has also pocketed capitals from investment manager Hina Group, ZhenFund, Zhencheng Capital and Shanghai Nami Ventures in the past.

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.