Tencent Leads USD73 million Financing Round in NextData

January 8, 2020 10:43 am

Beijing (PingWest)- NextData, a Chinese risk control solution provider powered by artificial intelligence technologies, has raised USD73 million in its series C round of funding led by Tencent and TMT-focused investment firm Xiang He Capital.

Other investors including Xiaomi-backed Shunwei Capital, Baidu’s investment arm Baidu Ventures and Crystal Stream also participated in this round.

NextData will use the fresh capital to support research and development for AI, overseas business expansion and talent recruitment.  

By leveraging AI and big data technologies, NextData provides risk control solutions and service including fraudulent content and pictures detection, fingerprint recognition to clients in industries ranging from retail, real estate to media and entertainment.

Online and offline retailer Suning, online education firm VIPKID, animation content sharing website Bilibili, Baidu-backed video streaming platform iQIYI are among the big name corporate clients for NextData.