Seoul and Beijing-based cloud IT service provider Bespin Global has raised around $75 million in its Series C funding round, the media reported.
The funding round for Bespin Global was led by South Korea-based wireless telecommunication company SK Telecom and existing investors such as DY Holdings also participated.
“5G will become the leading force in the future cloud computing market, so we will focus on building a 5G cloud management platform that can lead the global technological development,” said Brad Yun Lee, co-founder, and chief executive at Bespin Global China told the media.
“After the new financing, we will speed up our business expansion into markets outside of China. We will also continue our efforts in the Chinese market and vigorously seek [opportunities to enable] rapid growth.”
“All Bespineers are thrilled about what we have achieved. We are more than ever committed to becoming the trusted partner for successful cloud adoption for companies in Asia and around the world.”
Bespin Global’s list of clients includes global cloud service providers such as Amazon Web Services (AWS), Microsoft Azure, Google Cloud, Alibaba Cloud, Huawei, and Tencent Cloud.
The company has more than 700 clients across 12 industries across the globe. Its market includes Asia and the Middle East.
So far, Bespin Global has raised around $183 million in separate funding rounds.
According to reports in the media, China’s cloud infrastructure market grew 66.9 percent to $3.3 billion in the fourth quarter of 2019, representing 10.8 percent of the global total. The market is currently dominated by Alibaba Group, being the largest cloud service provider in China.