Legend Capital, the venture capital firm sponsored by conglomerate Legend Holdings, has led a $15m series A round for South Korea-based cloud management software developer Bespin Global.
Outsourced IT services provider Hyosung ITX also took part in the round, alongside fund manager Premier Partners, venture capital firm Altos Ventures and undisclosed additional investors.
Founded in late 2015, Bespin Global provides cloud management software and services for business clients. It has offices in Korea and China, and serves more than 150 medium-to-large-sized companies.
The funding will help Bespin speed up product innovation and improve its sales and marketing capabilities as it seeks to attract a broader customer base.
Legend Capital partner Joon Sung Park will join Bespin’s board of directors. He said “Bespin is remarkable in that it has already shown a good traction in China, a market that we know very well. Legend Capital is a very active investor in the cloud space in China and globally.
“We believe the disruption of the legacy IT by cloud represents a massive opportunity and Bespin is uniquely capable of addressing it.”