BlueRun Joins $100M Series C Round In China’s QingCloud

Beijing-based enterprise cloud computing services provider QingCloud has completed US$100 million series C round of financing from two undisclosed Chinese investors with participation from existing investor BlueRun Ventures, according to Chinese media reports.

China Money Network is unable to verify the news and start-ups in China routinely exaggerate their fundraising activities to pressure competitors.

QingCloud says it will use the proceeds on research and development, infrastructure build-up and product improvements.

Founded in 2012, QingCloud raised US$2 million series A round from BlueRun Ventures that year.

In 2013, it raised US$20 million series B round from Lightspeed China Partners, BlueRun Ventures and Matrix Partners.

QingCloud currently serves 45,000 enterprises in China including banks, Internet firms and consumer companies, according to its website.