Big Data-based Recommendation Solution Provider Baifendian Raises US$25M of Series C Funding
Baifendian Corp., a Beijing-based personalized recommendation technology service,announced that it received US$25 million of Series C financing without mentioned the name of investors. In total, the company has secured roughly US$42.2 million funding together withUS$10 million in Series B round received one year earlier and US$7.2 million in Series A financing.
The funds received this time will be used to improve technology, big data application models, talent recruitment and infrastructures, said Su Meng, board chairman of the company.
As global big data ecosystem is taking form, Baifenbai launched this time a new strategy to focused on enterprise-facing big data applications. According to Su Meng, the strategy is consisted of three parts 1): Exploring Aaas (Analysis-as-a-Service) and MaaS (Model-as-a-Service) businesses, both offering final analysis results and allowing clients to customize the analytic models for extended development. 2) All the technologies and services are based on cloud, either public cloud or hybrid cloud. 3) Constructing comprehensive big data platform, opening to third-party developers, as well as part of the data to analysts and scientists.
Su added that Baifendian is committed to collectivized management of its existing businesses of Baifendian Technology, Xinbo Technology and Qianfendian Technology. Each of the three subsidiaries has their own focus on different sectors of big data services. Baifendian Technology is specialize in big data Internet application, including cooperation with e-commerce sites and media. Xinbo Technology gives priority to big data application in retailing and O2O sector, while Qianfendian Technology is engaged in R&D of basic big data platform and provides big data solution plans to enterprises in traditional industries.
Founded in 2009, Baifendian is a Chinese recommendation engine specializes in analyzing customer’s online shopping preference, providing integrated optimization solutions for e-commerce websites through in-site traffic conversion and business intelligence analysis. Baifendian’s two flagship products are Baifendian Recommendation Engine (BRE) and Baifendian Analytics Engine (BAE), focusing on analyzing shopping preferences across the Internet thereby providing precise marketing services to e-commerce sites.
After five years of development, the company’s big data technologies and services have been applied in various fields of e-commerce, retailing, automobile, finance, branding, serving more than 1,000 enterprise clients, like Yihaodian.com, VANCL.com, Tuniu.com, Coo8.com, 58.com, Xiu.com, Redbaby.com.cn, Mbaobao.com Kela.cn, MasaMaso.com, among others .