According to an announcement published on the company’s WeChat account, Beijing-based AgotoZ has scooped up 500 million yuan ($77.43 million) in its Series C round of fundraising. The financing was led by a fund under China International Capital Corporation (CICC), and followed by NGP Capital and Creo Capital.
The company’s existing investors SIG, Siguler Guff and Legend Capital also participated.
In November 2019, AgotoZ received $35.6 million in series B+ round, led by Legend Capital.
The fresh capital will be used to enhance technologies including cloud data management, and develop product application scenarios and iteration.
Founded in 2017, AgotoZ is a network-as-service (NaaS) company, providing optimized network solutions for enterprises in IT, telecommunication, and cloud computing areas.
The company has cooperated with China Mobile, NetEase, Cheetah Mobile, VIPKID, Moji Weather, etc. Its partners also include Alibaba Coud, Tencent Cloud and Amazon Web Services.
NaaS involves the optimization of resource allocations by considering network and computing resources as a unified whole.
The term is often used with cloud computing, along with acronyms such as infrastructure as a service (IaaS), platform as a service (PaaS) and software as a service (SaaS).
Basic NaaS models are virtual private network (VPN), virtual network operation, and bandwidth on demand.
In China, top providers in the field include network gear companies China Mobile, China Unicom, PCCW Global, HGC, and managed service providers like AgotoZ.
In the US, a good recent example of how NaaS will be brought into the enterprise is Cisco's Plus offering.