Kyligence, a China-based analytical processing technology developer backed by networking technology provider Cisco, has doubled its total funding to $50m with a $25m series C round.
The round was led by hedge fund Coatue Management, with participation from Eight Roads Ventures, an investment arm of financial services and investment group Fidelity International, Redpoint Ventures, Shunwei Capital and Eight Roads.
Kyligence provides data analytics software used for business intelligence and will use the funding for technology and product development. Debashis Saha, vice-president of platform at business and finance software producer Intuit, recently joined it as a board adviser.
The company closed a $15m series B round led by Eight Roads and backed by Cisco, Redpoint Ventures, China Broadband Capital and Shunwei Capital, all of which it identified as existing investors, in July 2018.
Joe Chang, partner at Eight Roads Ventures China, said: “Kyligence’s solutions are already being trialled by enterprises all around the world, including Fidelity International.
The addition of Coatue as a highly regarded and accomplished US technology investor further validates the appeal of Kyligence’s data-ready [enterprise data warehouse] solution across global markets.”
