Redpoint Ventures China Leads Series B Round In Chinese CMP Provider FIT2CLOUD

FIT2CLOUD, a cloud management platform (CMP) provider, has announced that it has secured a series B financing round led by Redpoint Ventures China.

GF Qianhe Investment, a wholly-owned subsidiary of GF Securities, also participated in this round, according to company’s WeChat account.

However, no financial details were disclosed in the announcement.

Founded in 2014, Hangzhou-based FIT2CLOUD provides configuration, monitoring, automation and management services for cloud infrastructure and applications to help enterprises solve cross-platform cloud management issues.

Its enterprise-level CMP consists of service operation management platform, resource and cost analysis platform and development operation and maintenance integration platform.

"CMP is playing an increasing important role in the digital transformation of enterprises. FIT2CLOUD deeply understands the development trend of China’s cloud computing market and the needs of customers in each industry," said Zhang Han, partner of Redpoint Ventures China.

FIT2CLOUD will use the proceeds of this round to accelerate research and development of its CMP products, improve and expand sales and service delivery systems as well as increase market penetration in more industries and regions.

The company had previously raised RMB130 million (US$19 million) in series A financing round led by THG Venture Capital, with participation from Lotus Lake Ventures.