UCloud Receives USD 50 Mln Series B Funding
Sina Tech, 6/17/14
Shanghai-based cloud service provider UCloud Information Technology has received USD 50 mln in second-round funding led by Bertelsmann Asia Investments and Legend Capital, with participation from existing investor Doll Capital Management (DCM). The funds will be used for the construction of core company infrastructure.
UCloud CEO Ji Xinhua has revealed that, following the latest round of funding, the company will enlarge its data center infrastructure, while continuing to invest in R&D capabilities. UCloud will also soon finish construction of its Beijing data center.
UCloud primarily provides infrastructure as a service (IaaS) packages to internet companies, including cloud server, storage, data, CDN (content delivery network) and other types of cloud computing solutions. According to UCloud, its solutions help customers to build scalable IT infrastructure, at the same time taking advantage of UCloud's strength in cloud computing to boost efficiency and lower IT costs. The company has several thousand paying clients concentrated in the gaming and e-commerce industries.
Editor's Note: For more background on this topic, please see "Shanghai-Based Cloud Service Provider Lands USD 10 Mln Funding" MD 11/21/13 issue.
Keywords: hardware funding Bertelsmann cloud computing data center Doll Capital Management Legend Capital second-round Ji Xinhua Ucloud
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