China-based big data technology provider Hangzhou Tongdun Technology has received $32m in a series B+ round featuring IDG Capital Partners, a venture capital affiliate of media company International Data Group, China Money Network reported on Wednesday.
The round was led by VC firm Advantech Capital Partners. An unnamed unit of Suzhou Oriza Holdings, the investment vehicle of China-Singapore Suzhou Industrial Park, also took part, as did China Broadband Capital, China Growth Capital, Qiming Venture Partners and Linear Venture.
Founded in 2013, Tongdun uses big data analytics to offer anti-fraud and anti-theft products to clients including financial services firms, insurance providers and e-commerce platforms. The company claims to have more than 3,000 customers.
IDG Capital Partners, Qiming, China Broadband Capital, China Growth Capital and Linear also participated in earlier funding rounds for Tongdun, according to China Money Network, though details regarding size or timing could not be ascertained.