Bangsun Technology closed its Series C funding round of CNY 350 million. This streaming analytics-enabled big data compnay will continuously invest in cutting-edge technology and explore opportunities in non-financial sectors.
June 3, 2019, according to EO Company, Bangsun Technology (邦盛科技) secured a Series C funding found of CNY 350 million (USD 50.67 million) from VMS Investment Group (鼎珮投资) , the lead investor, followed by SDIC Venture Capital (国投创业), Legend Capital (君联资本), and Xinhu Holding(新湖控股). So far, Bangsun has closed five funding rounds of more than CNY 800 million (USD 115.84 million).
Founder of Bangsun, Dr. Wang Xinyu said that Bangsun will continuously focus on real-time big data analytics and invest in cutting-edge technologies.
Founded in 2010, Hangzhou-based Bangsun Technology is a fintech firm specializing in real-time financial risk control system. For the first four years, the company worked solely on the infrastructure development of stream processing, a technology allowing instant data processing and analysis.
Based on it StreamCube (流立方) streaming analytics platform, Bangsun has now been providing banks and financial institutions with multiple financial products, including real-time anti-fraud solutions, real-time attack monitoring system, and stock market analytics products. Moving forward, Bangsun attempts to adopt the core technologies into non-financial industries such as rail transportation, logistics, electricity, etc.
The company emphasized the importance of hot data, data that arefrequently accessed on fast storage. Employing big data analytics technologies, Bangsun strives to take the most use of hot data.
In data management, hot data refer to data that get frequently accessed, compared with warm data, less-frequently accessed data stored on less responsive storage, and cold data, the least active data stored in cheaper environment. Hot data more accurately describe the real-time situations.
Streaming analytics provides flexibility and velocity of analyzing hot data. According to Forrester' s Streaming Analytics Wave report,
“streaming analytics solutions can capture perishable insights on real-time data to bring immediate context.”
Thanks to mobile internet and IoT, hot and warm data grows exponentially and constantly from each IoT devices and contains substantial values. Unlike the past that most data are controlled by government, now multidimensional data are available everywhere throughout the internet. Thus, various channels for data acquisition and manipulation exist.
Fintech companies involved in spheres such as big data credit reporting and risk control attract significant investment recently. Three days ago, another startup specializing in credit reporting, WISECO technology, received CNY 650 million (USD 94.11 million) Series A financing.