China-based performance management software provider Cloudwise has closed a $26m series C round featuring securities trading and technology firm Susquehanna International Group (SIG), China Money Network has reported.
Media and technology-focused private equity firm CBC Capital led the round, which also featured venture capital firm Sequoia Partners China.
Cloudwise produces cloud software that helps companies monitor IT and business operations, improving IT maintenance and organisational performance in the process.
The company’s clients reportedly number more than 300,000 and include businesses operating in sectors such as finance, manufacturing, energy and government. It plans to use the series C funding to grow its market share.
Cloudwise had received $3m in series A funding from VC firm Gobi Partners in 2013 before adding $15m in a 2014 series B led by Sequoia Capital, the firm that subsequently supplied $12.3m in series B+ funding for Cloudwise the following year.