Chinese APM Service Provider Tingyun Closes CNY 400 Million Series C Funding
Tingyun has been the only Chinese brand selected as a niche player in Gartner's Magic Quadrant for APM for the last three years.
Tingyun, one of the first enterprises dabbed in Application Performance Monitor in China, posted a series C round funding, with CNY 400 proceeds from CICC Capital's Zhongjin FengTai Fund, Plum Ventures, CUAM and other organizations.
The proceeds will be mainly used on research and development, to augment and upgrade data collection, develop more effective solutions tailored to various sectors and improve its Artificial intelligence for IT operations (AIops) performance.
Tingyun was incorporated in 2007. Three years later, It first rolled out a Real-Time Messaging Protocol-based, streaming media monitoring service. The company was listed on the Second Board in 2015, then delisted after two years. Its business fulfills many sectors' needs like government, finance, telecommunications of observing apps' performance, including a WeChat mini-programs monitoring service. Unlike many cash-burning cloud business in China, Tingyun achieved profit break-even in 2018.
One of the key trends in the IT operation area is deploying automation, lowering the use of intensive labors. APM helps companies observe and conduct IT operations more effectively than traditional solutions. As CIOs are pushing digitalization, more intelligent digital supervising system equipped with technologies such as AIops is needed. Others, APM products may also benefit from blended and complicated IT infrastructure, which spur a genuinely valuable service to enterprises.