Quanzhi Tech, a Hangzhou-based data security company, announced Friday that it had closed a B round of funding that has raised several hundred million yuan. The financing was jointly led by Sequoia China and GGV Capital, as well as previous investors such as FG Venture, Lenovo Capital and Incubator Group and Volcanics Venture. Voyagers Partners provided exclusive financial advisory services.

This round of funding will be used to increase R&D efforts, build a data-driven product matrix, and develop data flow security solutions for various scenarios and industries.

Quanzhi Tech was founded in Hangzhou in May 2017 by Fang Xing, who previously worked at Alibaba, Venustech and eEYE. To date, the company has received four rounds of funding.

Currently, Quanzhi Tech has served clients such as China Minsheng Banking Corp., China Telecom, and the Shenzhen Big Data Bureau.

Thanks to the implementation of the Chinese Data Protection Act and …

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