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Sensors Data Completes Series C Financing of US$44 Million Led by Warburg Pincus
BEIJING, April 12, 2018 /PRNewswire/ -- Sensors Data, China's leading user behavior analysis and solutions provider, announced today the company has closed its Series C financing totaling US$ 44 million. The financing is led by an affiliate of Warburg Pincus, with Sequoia Capital China, DCM Ventures, Xiang He Capital, Morningside Venture Capital, Linear Venture and Future Capital co-investing in the round. Sensors Data became the first Chinese big data company in the user behavior analytics vertical to receive Series C financing. With the new funding, the company will invest more in product R&D, market scaling and professional services.
Sensors Data was founded in April 2015 by a group of ex-BAT founders with 11+ years of experience in the big data analytics field. The company 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, deep dive analysis, and provides a flexible PaaS platform to meet with industries clients' customized development demands.
Mr. Wenfeng Sang, Founder and CEO of Sensors Data, commented, "Big data applied to business relies on continued services rather than product itself. 'Service first' is at the core of our philosophy. At Sensors Data, we believe deploying the product only unlocks 20 percent 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."
Mr. Yaozhou Liu, Co-founder and COO of Sensors Data, believes that a growing number of business executives are now aware of the importance of data assets. "Data and artificial intelligence are now closely tied together. The value of data is no longer limited to operational analysis for a single business. We are building a closed-loop solution consisting of data collection, analysis, decision making and validation. Our services cover the entire operation process of our clients, from the first interaction all the way through demand matching and customer success."
Today, Sensors Data serves over half of the top 50 corporates in each major vertical such as finance and retail, amongst 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, Haier, Yonghui Supermarket, PSBC Consumer Finance, Guangfa Securities, Jumei.com, Huimin.cn, Qudian, Lianjia, Sichuan Airlines, Fxiaoke.com, Keep, Oriental Pearl and 36kr.com.
Gordon Ding, Managing Director of Warburg Pincus, commented, "Worldwide data generated will reach 44 trillion GB by 2020, which will drive an immense demand for data-related storage, processing, analysis and applications. As a global leading private equity firm, Warburg Pincus has been systematically mapping China's enterprise 'software-as a service' (SaaS) market, in particular the rapid-growing big data analytics sector. The Sensors Data team has the deepest understanding of data intelligence demand of Chinese companies. 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."
Hesong Tang, founding partner of Xianghe Capital, said, "Sensors Data is an exceptional big data company in terms of technology capabilities, team capabilities, business model and industry vision. The team's enormous potential is the primary thesis in our decision to invest. We hope Sensors Data can leverage its technology strength and unique team culture to provide strong services to its customers and become a unicorn in the big data sector."
Ye Yuan, partner at Morningside Venture Capital, said: "Chinese companies are at the juncture of transitioning from the Internet era to the data era, and more and more of them have started to explore the value of their data assets. Sensors Data has established its market position by solidifying the data foundation and precisely targeting the demand of its corporate clients. It has become essential for companies to leverage data to drive their decision-making and product intelligence. Sensors Data has in-depth insights into the market trend and customer demands. We highly agree with the team in its mission and value proposition and believe that the team will be able to bring long-term value to its clients amidst the secular trend of data intelligence."
Sensors Data has been leading the user behavior analytics sector with its proven business model, systematic management, strong business development capabilities and solid technological foundation, and received recognition and continued support from the capital market. The company raised its angel-round financing in March 2015, and announced its Series A financing of US$ 4 million and Series B financing of US$ 11 million in April 2016 and March 2017, respectively. Series A financing was led by Sequoia Capital China, and all of the company's angel investors co-invested, including Linear Venture, Future Capital and individual investor Manzi Xue. Series B financing was led by DCM Ventures, with Sequoia Capital China co-investing.
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