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Cloopen Raises Hundreds of Millions of Yuan in Series D
Cloopen Raises Hundreds of Millions of Yuan in Series D
Working with laptop. Image credit: Kobu Agency/Unsplash

Intelligent cloud communication solution provider Cloopen (容联云通讯) has announced that it has completed the Serise D round of financing led by Prospect Avenue Capital (PAC) today, raised hundreds of millions of yuan.

Founded in May 2013, Cloopen was initially positioned to provide a full-communication cloud computing PaaS platform. By integrating operators' network resources and communication resources, the communication capabilities are packaged into Application Programming Interfaces (APIs) and Software Development Kit (SDKs). Providing video, conferencing, call center and other functions for corporate and individual customers. Developers can use voice communication intercom, group chat, click-to-dial, voice conference, video call and other functions in the application by embedding the cloud communication API.

Since the successful IPO of Twilio in 2016, the US cloud communication market has been in full swing. In the past 12 months, Twilio's stock has risen an astonishing 216%, and analysts believe it is expected to become the second AWS. In addition, the median of the market capitalization of several cloud communications listed companies such as Zendesk and Ringcentral has approached USD 10 billion. This year, the market value of Zoom was also exceeded USD 23 billion.

Currently, Cloopen has more than 1,000 employees and te R&D related staff take more than 60% of the total. Sun Changxun (孙昌勋), president of the company, said that the transformation of large and medium-sized enterprises is on the rise, and the future market for industrial intelligent transformation is very broad. After this round of financing, Cloopen will continue to increase product research and development investment, especially the combination of communication services and AI.

To learn more about SaaS and Industrial Internet, read more about it in the latest  EqualOcean report -- download.

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