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Chinese Cyber Security Start-up MoreSec Completes $28M Strategic Round

MoreSec, a Chinese enterprise information security services provider, has raised RMB200 million (US$28.42 million) in a strategic round of financing led by Shenzhen Oriental Fortune Investment and Ambrum Capital.

Qianhai Fund of Funds and MainTrend Capital also participated in this round.

Founded in April 2016, MoreSec is an emerging network security company focusing on building an enterprise security system based on a new IT architecture environment. The company has already served companies in various fields including finance, express logistics, automotive, energy and high-end manufacturing.

“Cloud computing has its own characteristics, and traditional security protection is difficult to effectively solve related security issues. It is necessary to innovate according to the characteristics of cloud computing. The founding team of MoreSec has many years of practical experience. The company’s products are based on advanced security concepts and have established leading product lines in the security field of the cloud computing era,” said Huang Guoqiang, deputy general manager and partner of the SME Development Fund under Oriental Fortune Investment.

Proceeds of this round will be used to build a "next-generation enterprise security system" based on intelligent operation security AISecOps and left-shift development security DevSecOps.

The company previously raised RMB30 million (US$4.26 million) in a series pre-A round of financing led by Vplus Venture Capital with participation from Zhen Fund and In Capital.

(This article is translated from 36Kr. You can see the original article in Chinese here.)

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