China-based mobile security technology developer Trusfort Technology raised RMB300m ($44.4m) yesterday in a series C round that included SIG China, part of technology and trading firm Susquehanna International Group (SIG).
The round was led by CBC Capital and included fellow private equity firm Yunfeng Capital and Redpoint China Ventures, the subsidiary of venture capital firm Redpoint that is raising $400m for two new funds. It was disclosed through a statement on chat platform QQ.
Founded in 2015, Trusfort provides identity authentication products and services that use biometrics, big data and cloud computing technology to help enterprises authenticate their users and customers protect mobile devices from cyberattacks and fraudulent activity.
Trusfort plans to use the capital amassed in the series C round to develop new security products and expand its business into new international markets.
The company closed a $18.6m series B2 round in January 2018 that was led by Yunfeng Capital and backed by another SIG subsidiary, SIG Asia Investment, as well as Dreamfly Capital and Redpoint Ventures.
The series B2 round was preceded by an undisclosed amount of funding from SIG and Redpoint in June 2017 reported by 36Kr to be approximately $12.4m.