Cloudwise, China’s Industry Leader in Intelligent Operations and Maintenance Closes US$150 Million Series E Round

9 September, 2021

Cloudwise, a full-stack intelligent business operations and maintenance solution service provider has announced the closing of their Series E round of US$150 million, led by Sequoia Capital Operations LLC, followed by ASG, Boston Investment, CRC Capital, CPE, FutureX Capital, and SIG. This round sets the record for highest fundraising in the domestic intelligent operations and maintenance industry.

The 14th iteration of China’s National “Five Year Plan” outlines that the digital future of the country involves society (regardless of industry or background) accelerating into the fast lane of digital transformation. Cloudwise—and the intelligent operations and maintenance industry at large—plays a key role in this evolution, as they serve technological sectors such big data, artificial intelligence, IoT, and digitalization; they help companies to embrace the “moving to cloud, utilizing numbers, and providing wisdom” motto, thus pushing the country towards a successful digital transformation.

Since introducing the concept of “intelligent business operations and maintenance” in 2016, Cloudwise has used a “data-based, scenario-oriented, and algorithm-supported” framework for their work in Artificial Intelligence for IT Operations (AIOps). Their services give their customers an advantage that takes into account a full-stack, full-scene, and full-industry approach, thus offering them IT solutions that are fitting for the new digital era.

The company has built a product matrix that serves areas such as IT consulting and operations and maintenance management (which takes into account the entire lifecycle of a company’s operations); their products cover ITOM, ITOA, ITSM and more, and provides solutions for 178 real-application scenarios for over 20 industries. At present, Cloudwise is the only company in China that offers full-stack intelligent operations and maintenance services.

Cloudwise will be using the freshly raised funds to further improve their platform, their AI and big data technologies and applications, as well as their systems and service networks. Their ultimate goals are to respond to their customers’ needs speedily, continue to improve the capabilities of their services, and to create more scenario-based intelligent solutions that can be applied in more industries to optimize the efficiency of their customers’ systems even further.

According to market research company MarketsandMarkets, the AIOps market is expected to reach US$11.02 billion in 2023, with an average annual compound growth rate of 34%. It is a promising industry that is ushering in many opportunities both domestically and internationally.

Cloudwise has successfully developed their business operations, grown their team, accelerated their marketing efforts, and provided additional solutions thanks to their previous effective efforts to commercialize, accumulate deep technology, as well as their creation of a robust range of services. They have since established a strong network of customers from top industries in China including financial services; government, energy, operations, transportation, manufacturing, and education.

The company also recently established the first “Intelligent Research Institute” in collaboration with Tsinghua University’s School of Software and the Chinese Academy of Sciences’ Software Institute. The research that will take place in the Institute will use advanced AI algorithms to solve complex problems. At the same time, their R&D centers in Beijing, Chengdu, Guangzhou, Shanghai, and Zhengzhou are now fully operational, helping them to further innovate the engineering of algorithms, conduct more product R&D, develop more projects, and to localize the delivery of their services. Moving forward, Cloudwise is working towards further empowering the digital transformation of China and the world.

 


About the Author: Vanessa Lai, PR and Creative Intern
Vanessa Lai, PR Associate. Vanessa joined Gobi in 2021. She is responsible for Public Relations and Communications functions with a Greater Bay Area focus, and is a graduate of the University of Toronto with a Bachelor of Arts (Hons.) in Communications, Information Technology and Writing. She is also a published writer and journalist with a recent debut novel, as well as work featured across various publications.

About Gobi Partners
Gobi Partners is one of the longest-standing venture capital firms with a Pan-Asian presence across North Asia, South Asia, and ASEAN with over US$1.2 billion in assets under management (AUM). The firm, headquartered in Kuala Lumpur and Shanghai, supports entrepreneurs from the early to growth stages and focuses on emerging and underserved markets.

Founded in 2002, Gobi has raised 13 funds to date, invested in over 270 startups, and has grown to 13 locations, across Bangkok, Beijing, Dubai, Ho Chi Minh City, Hong Kong, Jakarta, Karachi, Kuala Lumpur, Lahore, Manila, Riyadh, Shanghai, and Singapore.

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