Beijing-based EasyStack secures US$50 million series C funding led by Cash Capital

Beijing-based EasyStack secures US$50 million series C funding led by Cash Capital

EasyStack, one of the leading open source cloud enterprise cloud platform and services provider in China, has announced on Wednesday, that the company has closed a US$50 million Series C funding round led by Beijing-based Cash Capital Investment Management Co, Ltd., an investment arm of the Chinese Academy of Science Holdings.

Other investors also include a number of unnamed RMB funds, which has brought the company’s total venture fundraising to US$68 million, in addition to setting a new record for a single round funding in the open source field in China.

“Improving China’s self-developed cloud computing capabilities is an important part of China’s 13th Five-Year Plan,” said Chen Hongwu, a partner at CASH Capital. “EasyStack has the best team with robust technology expertise, and the company has established a leading position in China’s open source enterprise services market.”

Founded in February 2014 by the core team of IBM China R&D Center, EasyStack is the leading cloud platform and service provider in Asia-Pacific, providing cloud computing services that is open, controllable, stable, and reliable with high performance based on OpenStack for over 100 enterprise clients including China Mobile, China UnionPay, and Lenovo Group Ltd.

“China is one of the most active areas for OpenStack, and many Chinese companies including EasyStack are making great contributions to the community. The Series C investment is a big milestone for EasyStack, and I believe OpenStack will grow fast with the support of successful OpenStack companies and users,” said Jonathan Bryce, the executive director of OpenStack foundation.

Besides, EasyStack adheres to the concept of open cloud computing and contributes to the development of the community. In its newly released Newton Version of the OpenStack, EasyStack takes the lead in China as well as being the eighth in the world in terms of tc-approved commits.

“The core competitiveness of the cloud computing service provider is demonstrated in the R&D capacity of the basic technologies based on the accumulation of the service and implementation experience of the enterprises and the establishment of the threshold of the leading enterprise clients of a certain industry,” said Xilun Chen, the founder and CEO of EasyStack.

Hence, with this new round of financing, EasyStack plans to continue improving its technology and operation, through primarily focusing on the research and development of core open source technologies, eco-investment of the open source cloud enterprises solution, and team building of the enterprise cloud services.

Besides, the firm also looks to expand its market scale in the OpenStack field, continuously enhancing its capacity to offer comprehensive services, improve its advantages in technologies and the operation cost so as to build an open source cloud platform featuring stability, security, high efficiency and controllability for enterprise users.

Prior to this, the company had raised US$2 million in a series A round from Blue Run Ventures in 2014, while in 2015, EasyStack has managed to secure US$16 million in its series B round.

By Vivian Foo, Unicorn Media

Mobile app management platform Hansel.io raises US$1.35 million round led by IDG Ventures

Mobile app management platform Hansel.io raises US$1.35 million round led by IDG Ventures

Mobile application management platform, Hansel.io, has secured US$1.35 million in a funding round led by IDG Ventures with participation from existing backer Endiya Partners, the company said in a statement on Wednesday.

“What made us excited about Hansel.io was the ease with which the product can help mobile developers solve major production issues at runtime. At a time when customer acquisition and retention costs continue to skyrocket, a product like Hansel.io comes as a big boon for a great end-user experience,” Venkatesh Peddi, the Executive Director at IDG Ventures said.

With the latest proceeds, the Bengaluru-based firm will use the funds for team expansion, product development, and growth in overseas markets – that is specifically the expansion of the company presence in the North American market.

This round follows Hansel.io seed funding in February 2016 from Endiya Partners, Tracxn Labs, along with a group of angel investors including Rajesh Sawhney and Mekin Maheshwari.

“With this round of funding, the focus will be to go global, go cross-platform, and help mobile developers be as responsive to their end users as possible,” the co-founder and CEO Varun Ramamurthy explains.

Founded in 2015 by former Flipkart employees – Varun Ramamurthy, Parminder Singh, and Mudit Maur, Hansel Software Pvt. Ltd. develops crash analytics for mobile applications, offering a developer-friendly toolkit that helps them to diagnose, resolve and communicate customer issues on their application.

In other words, Hansel.io allows mobile developers to fix bugs, update configurations, edit user interfaces, and manage security policies of mobile apps at runtime. The platform is currently available on both Android and iOS.

“Despite the abundance of use cases the product provides for, for the developer, it is a simple configure-and-deploy product, where companies can go live in less than 15 minutes. We have built the product to be as intuitive and effortless to use as possible,” said Parminder Singh, one of the co-founders of Hansel.

Hansel.io can help developers start managing their live apps at runtime, with just a five-minute integration process and no code change required, developers can start managing their live apps at runtime using Hansel.

The company claims that it currently has an installed app count of more than 140 million across client such as redBus.in, Toppr, nearbuy, Voonik and ShopX among others. The firm also claims that it has impacted nearly 20 million devices, helping the users by fixing a bug, changing the UI or security permissions.

By Vivian Foo, Unicorn Media