Value Simplex (熵简科技) closed Series B round of funding led by Gaorong VC and Harvest Capital, according to EO Company. Middleware is in demand in today's big data explosion and fast-moving business environment.
Founded in 2017, Value Simplex positioned itself as an intelligent investment research platform, leveraging data and machine learning analytics to acquire, process and analyze massive data to provide clients with investment advice. In the past two years, the company secured two rounds of financing, including Angel financing of CNY 10 million in March 2018, and Series A round of hundreds of millions yuan.
Fei Binjie (费斌杰), CEO of Value Simplex, said to EO Company, when he worked as an analyst in Harvest Fund, he noticed a major pain point in financial institutions that various types of data are scattered across different carriers and it takes a significant amount of time to find effective data.
After one-year development, the company revamped itself as the data middleware provider, to solve business pain points in data services. Clients are purchasing raw data from different data providers in various types of database such as Oracle, AWS, ExcelValue Simplex integrates all the raw data together and offers to clients through API (application program interface).”
Data middleware is becoming a buzzword recently. The software originally serves for big enterprises with hundreds of business lines to improve efficiency. Coined by Alibaba, middleware platforms, including technology middle platforms, data middle platforms and business middle platforms, is introduced to avoid repetitive work.
Due to different development speed, there's a gap between the front-end business team, who embraces an agile development style, and back-end data infrastructure team, who normally employ a slower and more stable procedure. Data middleware provides the front-end teams with a big picture to sort out data demand and with the most related data sets that are ready to analyze.
With founding members previously worked in Alibaba Group, DTWAVE (数澜科技) is one of the earliest startups focusing on data middleware. It has expanded in real estate, securities, retail, media and smart manufacturing sectors.
Value Simplex currently focuses on asset management area, where it has a deeper understanding of the business and therefore can offer standardized products and accumulate clients. It has provided services to leading Chinese wealth management institutions including Harvest Fund (嘉实基金), Orient Securities Asset Management (东方红资管), Yinhua Fund (银华基金), Springs Capital (淡水泉投资), as well as overseas hedge funds such as Point72, 3D investment.