China-based big data analytics technology provider Yonghong Tech has raised $30m in a series C round led by internet company Tencent, China Money Network reported today.
Tencent invested through an unnamed unit, and was joined in the round by consultancy firm iResearch Consulting Group, as well as venture capital firms Genesis Capital, Shenzhen Oriental Fortune Capital and Matrix Partners.
Yonghong operates two analytics platforms that offer features including big data, business intelligence and commercial intelligence. Customers can use one product to perform quick data visualisations or use the other tool to perform heavyweight big data processing.
The company’s target audience includes a range of sectors such as e-commerce, healthcare, financial and utilities.
Shenzhen Oriental Fortune Capital previously led Yonghong’s $15m series B round in December 2015, which followed $7.5m in series A+ capital provided by Matrix Partners.