DataStory Secures $25M in C2-Round Financing
Big data and artificial intelligence firm DataStory announced on Wednesday the completion of a C2 round of financing worth 160 million yuan ($25.3 million). The leading investor is Xianghe Capital, while co-investors include existing shareholder Shunwei Capital and Xiaomi.
Since its establishment in 2015, DataStory has independently built a 100 billion-level data platform, providing solutions involving data collection, processing, analysis and modeling across various commercial applications. The company is committed to creating a new generation of intelligent business engines for customers, and strives to expand into business scenarios such as product innovation, brand marketing, content marketing, channel operations, user operation and business analysis. It aims at driving intelligent decision-making with data.
DataStory now applies its customized delivery in a PaaS platform. It can create personalized products based on the reusable capability of the platform.
In addition, its “PaaS Eco-Partner Program” has opened up all underlying capabilities, and its partners gain access to such capabilities as data, algorithms, low code platforms and AppStore distribution channels. DataStory also provides funds for closely cooperating partners.
Supported by the underlying PaaS, DataStory has released more than 50 apps. At a new product launch conference held earlier this year, DataStory brought a new product, DataStory Image, and a search engine for business knowledge that understands marketing and can address problems and high costs in the field of industry research. To cope with problems in offline expansion, DataStory released a version 2.0 of “DataStory Ruijian” which brought s richer map display and smarter algorithms to identify the data of tens of millions of stores in China.
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At present, DataStory have provided services for more than 500 enterprises in a dozen industries. With this round of financing, DataStory will increase its investment in PaaS platforms and cognitive AI technology, and will also accelerate the update of its app store.