AI Platform Developer Cloudwise Raises $150 Million

Cloudwise, a Beijing-based company that develops artificial intelligence for IT operations platforms, has raised $150 million in a series E funding round led by Sequoia Capital China.

Such platforms use big data, AI algorithms and other analytics technologies to enhance the efficiency of operations like monitoring, automation and service desks.

The round attracted several other investors including FutureX Capital, SIG China and Citic Private Equity Funds Management, Cloudwise said in a statement Thursday.

The company said that it will use the fresh capital to support R&D for its platforms for customers in more industries, as well as the improvement of its service systems. Continue to read the full article here