Quanzhi Tech, a Hangzhou-based information security business, revealed on Friday that it had actually finished a B round of funding in which it protected numerous hundred million yuan The funding was collectively led by Sequoia China and GGV Capital, along with previous financiers such as FG Venture, Lenovo Capital and Incubator Group, and Volcanics Venture. Voyagers Partners supplied special monetary advisory services.
This round of funding will be utilized to increase R&D efforts, develop an item matrix associated to information, and form information circulation security services according to various circumstances and markets.
Quanzhi Tech was established in Hangzhou in May 2017 by Fang Xing, who has actually formerly operated at Alibaba, Venustech and eEYE. Already, the business has actually gotten 4 rounds of funding.
At present, Quanzhi Tech has actually served consumers consisting of China Minsheng Banking Corp., China Telecom and Shenzhen Big Data Bureau.
Thanks to the execution of China’s Data Security Law and Personal Information Protection Law, 2021 experienced the advancement of the domestic information security market.
Zhou Kui, a partner of Sequoia China, stated, “National laws and policies have actually made information security a should for business, and the marketplace is dealing with chances for continual and quick advancement. The starting group of Quanzhi Tech understood this extremely early. We are really pleased to comply with Quanzhi Tech this time.”