Tencent, Sequoia Invest in Data Startup at $200 Million Value

WakeData, a Chinese enterprise data services provider, has raised $25 million from investors led by Tencent Holdings Ltd. and Sequoia China at a post-money valuation of $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 digitalize their operations
  • Founded in 2018, the outfit is expected to more than double its revenue to at least 250 million yuan ($38.5 million) this year and turn profitable in 2022, founder Li Kechen said in an interview.

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