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Collin Furtado · · 1 min readThis Chinese data startup’s valuation rises to $200m after Tencent, Sequoia co-led round
“WakeData, a Chinese enterprise data services provider, has raised US$25 million from investors led by Tencent Holdings and Sequoia China at a post-money valuation of US$200 million,” reported Bloomberg.
Details:
- Existing investors IDG Capital and Shenzhen-based firm Redpoint China also participated in the startup’s series B+ round of funding.
- WakeData’s founder Li Kechen expects the company to more than double its revenue to 250 million yuan (US$38.5 million) this year and turn profitable in 2022.
Context:
- Founded in 2018, the company provides data management tools to clients to help them digitize their operations. Its clients include property developer Country Garden and retailer Watsons.
- In May 2020, WakeData raised US$10 million in its series B round led by Redpoint Ventures China and Sequoia Capital China.
Editing by September Grace Mahino
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