China-headquartered enterprise software developer Cloudwise has raised $60m of series D3 funding from investors including Zhongnan Capital, a vehicle for construction firm Zhongnan Holding, DealStreetAsia reported yesterday.
The round was led by Citic Private Equity Funds Management, the alternative asset management unit for investment holding company Citic Group, and also featured CR Capital, an investment arm of diversified state-owned holding company China Resources Group.
V Fund, Guangzhou Yuexiu Financial Holdings, CICC Capital, Sequoia Capital China, Albright Stonebridge Group (ASG) and Zhejiang United Investment Group also participated in the round.
Founded in 2009, Cloudwise provides cloud-based software that helps businesses manage their operations and IT applications. Its clients operate in sectors including transport, energy, internet, manufacturing and finance sectors.
In March this year, the company raised $24m in a series D-plus round led by Everest Venture Capital that also featured Sequoia Capital China, WestSummit Capital, ASG and Lakala Koala Fund, a vehicle co-sponsored by financial services provider Lakala Payment.
The company had received $25m in series D funding in a June 2019 round led by WestSummit Capital that included Sequoia Capital China, Tsing Ventures and Zhejiang SilkRoad Fund.
Quantitative technology firm Susquehanna International Group had invested in a CBC Capital-led $26m series C round in May 2017 that was also backed by Sequoia China.
Sequoia China led Cloudwise’s $15m series B round in 2014, later adding $12.3m in a series B-plus round the following year. The company had collected $3m of funding for its series A round from investors including Gobi Partners in 2013.