Anquanbao Lands Second-Round Funding
Sina Tech, 10/30/12
Kai-fu Lee, chairman and CEO of Beijing-based incubator Innovation Works, revealed today that Xingyun Rongchang (Anquanbao.com), the online security solutions developer in whose first round of funding Innovation Works invested, recently completed a second round of funding led by Northern Light Venture Capital (NLVC), with investment from Innovation Works.
Innovation Works reportedly invested less than USD 5 mln in first-round funding for Anquanbao.
Innovation Works has invested in 54 projects to date. Of these, 20 have received first-round funding. Anquanbao is the first Innovation Works project to receive second-round funding thus far. Innovation Works has also withdrawn from two projects with a nearly 2,000% rate of return.
Anquanbao currently has approximately 6,000 website clients.
Editor's Note: For more information on this topic, please see "Innovation Works Invests in Web Security Start-Up Anquanbao," MD 10/31/11 issue.
Keywords: Kai-fu Lee Internet funding Northern Light Venture Capital second-round Innovation Works Anquanbao VC
Sending
