Tencent, Sequoia invest in data startup at US$200m valuation

[HONG KONG] 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.

The Series B+ financing round also saw participation from existing backers IDG Capital and Redpoint China, the Shenzhen-based firm said Thursday.

WakeData provides data management toolkits to help clients like property developer Country Garden and retailer Watsons to digitalise their operations.

Founded in 2018, the outfit is expected to more than double its revenue to at least 250 million yuan (S$51.2 million) this year and turn profitable in 2022, founder Li Kechen said in an interview.

BLOOMBERG