On December 1, 2020, V Fund participated in the D3 financing round of 60 million dollars for Cloudwise (Beijing) Technology Limited (hereinafter referred to as: Cloudwise), a full-stack AIOps, which is the biggest single financing in the domestic AIOps field. In addition to V Fund, other well-known institutions such as CITICPE, YUEXIU Financial Holdings and CCIG also participated in the financing round. This is the second round of financing completed by Cloudwise within a year.
Ms. Xiong Yanpin, Co-Founding Partner of V Fund, believes that in the context of enterprise digital transformation, AIOps will become a necessity for enterprises as a key technology to support digital business. The overseas AIOps industry has developed earlier than China and produced many excellent listed companies, such as ServiceNow, whose market value is currently over 100 billion dollars. Cloudwise is a pioneer in domestic AIOps field and the only full-stack service provider in China. Cloudwise's products have obvious competitive advantages in many dimensions such as concept and methodology, platform architecture and technology, industry scenario coverage and consulting services strategy, etc. They have been recognized by many leading enterprises in the domestic field and currently cover leading customers in the Internet, finance, energy, transportation, intelligent manufacturing, real estate and other industries. V Fund firmly believes in the technical strength and commercial implementation capability of Cloudwise, and trust Cloudwise can maintain its leading position in the industry in the long term and become the ServiceNow in China.
Cloudwise began to apply big data and AI technology to IT operation and maintenance field in 2016 and took the lead in launching AIOps platform. The company is committed to product technology innovation and in-depth application practice of AIOps to provide strong support for enterprise digital business. Cloudwise has formed an intelligent operation and maintenance product system for the whole life cycle of consulting, construction, O&M of digital systems; the product line covers various aspects such as basic monitoring, application performance management (APM), intelligent log analysis, AITSM, CMDB, operation and maintenance event management, automated O&M, etc., and can form exclusive industry solutions to match users' 9 major types of IT O&M scenarios. AIOps capabilities have been extended from ITOM to ITSM. At present, Cloudwise is the only service provider offering intelligent O&M full-stack solutions in China.
The impact of the 2020 global COVID-19 pandemic on traditional office and business models has made more and more governments and enterprises recognize the urgency of digital transformation and upgrading, so a series of new infrastructures have emerged. With digitalization, networking and intelligence as the main directions of industrial technology change, optimization and upgrading, users' demand for intelligent O&M has continued to grow, and the intelligent O&M industry has entered the rapid development period. At the same time, as IOT and other technologies gradually advance from the exploration period to the market launch period, intelligent O&M in IOT construction field shows a broader prospect.
Since its inception, Cloudwise has been growing rapidly and selected for the Gartner AIOps report several times. In 2020, it became one of the compilers of the national standard for intelligent O&M. The strong market performance and development potential are making Cloudwise a key force in the global intelligent O&M market.
Under the pressure of the general economic situation in 2020, the company has seized the opportunity of the industry and achieved a high growth of 80% in business and team. Growing upwards and taking root downwards, the marketing and service network now covers more than 20 first- and second-tier cities in China, as well as countries and regions such as Singapore and Hong Kong. Cloudwise has launched in-depth cooperation with customers in a wide range of industries, such as government, finance, energy, transportation, operators, manufacturing and Internet, including many of China's top 500 companies, and continues to lead in the number of customer cases and application scenario innovations.
With the maturity of intelligent O&M platform products and solutions, the success of the business model, the perfection of the marketing service system, the accumulation of AI and other technologies, also the continuous support of capital, Cloudwise has completed the process of building market momentum and further established itself as the leader in the intelligent O&M industry.
Cloudwise is still expanding and improving its capability system. Cloudwise said after this financing injection, the company will strengthen the core technology research and development of intelligent O&M platform, improve the productization delivery capability and efficiency, focus on solution and service system construction, accelerate the industry market coverage and ecological partner empowerment and continue to lead the intelligent O&M track.