China-based cloud software tools producer RongCloud has attracted “tens of millions” of dollars in a series D round co-led by Electronic World Trade Platform, the investment fund anchored by e-commerce firm Alibaba, DealStreetAsia has reported.
The round was co-led by venture capital firm Shenzhen Capital Group and was the seventh to be closed by the company, according to DealStreetAsia, which stated security services provider Oriental Security had invested an undisclosed amount in March 2020.
RongCloud provides cloud software covering areas like instant messaging and fraud protection across sectors including e-commerce, healthcare and finance. The series D cash will go to technology upgrades and international growth.
GP Capital, a fund backed by government-owned financial holding group Shanghai International Group, led the company’s $14.7m series B round in 2017, investing with Tianxing Capital.
ZTE Capital, the corporate venturing unit for telecommunications equipment producer ZTE, had led RongCloud’s $7m series A round the previous year.