Chinese data company Cue completes Series A funding round
Cue, a Shanghai based business technology company owned by global investment firm KKR, has announced the completion of a Series A funding round.
The round was led by Anchor Equity Partners of South Korea, joined by KKR itself as well as the US-based Princeville Global.
In its 13 August press release, Cue was described as having already worked with 600 Chinese companies to provide data facilitating marketing and growth via its proprietary data sources.
Sky Shi, CEO of Cue, said, “With the completion of Series A round of financing, we are even better positioned to serve our diverse set of clients in China. We are excited to further invest in new technologies and a broader range of media to provide more professional, high-quality solutions to clients. This capital further helps us solidify our market-leading position at a time when brands are seeking creative digital solutions and data strategies to differentiate themselves and better communicate with their customers.”
The funding was said to be directed towards investment in research and development as well as acquisitions.
Paul Yang, Member and CEO of KKR Greater China, said, “This successful round of financing is a recognition of Cue as a true integrated solution provider with executional excellence, combining online and offline coverage, marketing and technology advantages, global trends and China insights. As China’s enterprises services and digital media industry undergo profound changes, we believe Cue has excellent prospects for growth and the wide-ranging capabilities and expertise to help its clients achieve business success.”
The amount raised was not disclosed, though KKR’s investment was made from its $9.3bn Asian Fund III.