This round was jointly raised by top domestic funds.

Text | Meichen

Edit | Xiaoxi

I learned that the digital upgrade service provider “WakeData” has recently completed a $ 10 million Series B financing. The leading investors were Red Dot Ventures China Fund and Sequoia Capital China Fund, and IDG Capital followed suit. This round of financing will be used for R & D investment in digital solutions, market expansion in vertical areas, and the construction of digital ecology.

WakeData is a company reported many times, its main business is based on big data and artificial intelligence, By integrating customer operation and resource management data, it provides enterprises with digitally upgraded products and services.

In May 2019, WakeData started commercialization, providing closed-loop services to customers from business segments such as project delivery, products, and operations. WakeData’s main customers are concentrated in real estate and retail, with the majority of head customers and a high repurchase rate. In 2019, the company’s overall revenue is in the tens of millions.

Li Kechen, founder and CEO of WakeData, believes that In the information age, companies engaged in enterprise services are mainly concerned with the internal management of enterprises and the resolution of collaborative issues. Entering the digital era, improving the efficiency of the connection between enterprises and customers, external information and services is the core value of digital upgrade service companies. WakeData is mainly based on the data center and big data capabilities, and is supported by upper-layer users and service scene connection tools to help companies collect and apply data and create a closed loop of internal and external data.

WakeDate product and service architecture

WakeData currently provides two major products, Wei Kebao and Wei Kebao, as well as offline big data marketing and operation services to meet the data needs of different business scenarios of enterprises:

  • The unique number platform: PaaS big data platform, supports internal information system data access of ERP, MES, WMS, POS and other systems, enterprise user connections and service data access, supports multi-source data processing, generally Delivered to enterprise developers.
     

  • Weikebao: Scene-based business applications, including e-commerce cloud, marketing cloud, shopping guide cloud, customer cloud, passenger flow cloud, analysis cloud six upper-level SaaS applications. Enterprise customers can be deployed as needed, with the help of cloud application systems such as AI face smart passenger flow system, store smart shopping guide system, global customer management system, etc., and gradually shift from product operation to customer operation. The business data generated in the application layer will be transferred to the unique platform, and after its analysis and processing, it will provide data support for the business again.
     

  • Operation service: It is an advisory management consulting service, covering marketing, user operation, effect monitoring, brand operation, etc., which can help offline companies to conduct marketing strategy diagnosis and planning.

    WakeData has helped companies in the retail service industries such as Xicha, Baijia Supermarket, Sanshijia, Yichun, Yilihui, Wrigley Sanitary Ware to upgrade digitally. In 2019, WakeData clearly defined the development direction, that is, to take root in industry scenarios and provide enterprise digital upgrade services, and continue to regard real estate and pharmaceutical retail as key industries for deep cultivation. This choice is mainly based on three reasons:

    First, in these two industries, WakeData has accumulated. In terms of real estate, WakeData has established partnerships with companies such as Country Garden, R & F Group, Yuexiu Real Estate, and Taihe Group, and established brand recognition in the industry. As far as pharmaceutical retailing is concerned, WakeData already has experience in cooperating with a number of chain pharmacies and has industry know-how.

    Second, the unit price of real estate and medical services is relatively high. Real estate companies have a high digital budget, relying on four scenarios of real estate operations, customer operations, smart sub-control and market research, WakeData can earn more than one million yuan in revenue for each phase of the project; Number of top 100 drugstore chain stores There are also more than 200 companies at all times, with a large enough scale.

    Third, there is a strong demand for real estate and medical digital upgrades. The emergence of the epidemic has made more and more real estate companies realize the importance of online sales, and they hope to use internal and external data for business analysis and forecasting. In the same way, grasping the information of the customer’s customer growth rate, customer flow rate, customer unit price and other information is very important for the operation of the chain pharmacy. The introduction of a digital evaluation system is the first step in understanding its own business capabilities.

    Talking about the competition in the industry track, Li Kechen said that technology cannot be a long-term barrier, and the industry cases and industrialization depth accumulated by various companies are the most important core strength in the future. Taking big data services in the real estate industry as an example, the most important indicator is the value of goods, which directly affects the company’s dynamic cash flow. The value of goods is affected by various factors such as the type of property, floor area ratio, storey height, area, market price fluctuations, marketing strategy and other factors, and the calculation is complicated. Big data service companies need to identify industry pain points such as value calculations to achieve end-to-end data pull-through.

    Yuan Wenda, founder and managing partner of Red Dot Ventures China Fund, believes:

     

    In a special period, the demand for online and digitalization in the core industry has exploded. At the same time, with the help of the “new infrastructure” policy, it is imperative to upgrade the industry digitally. Using artificial intelligence as the core to release the productivity of enterprise data and drive the enterprise’s customer operations and resource management is the main challenge of the current digital upgrade, and the market space is huge.

    Zheng Qingsheng, partner of Sequoia Capital China Fund, this round of investors said:

     

    Under the new round of technological revolutions such as big data and AI, as the global economy enters a digital economy, companies urgently need advanced technical solutions to meet the challenges posed by digital assets and related risks. Data capabilities will become the core competitiveness of enterprises. The WakeData team takes big data and artificial intelligence as the core, and uses data to drive the enterprise’s customer operation and resource management, which is the core goal of the current digital upgrade.

    In terms of teams, WakeData has more than 180 employees, of which R & D personnel account for more than 80%. The core team is from SAP, Oracle, IBM, Cisco, Dell, BAT, Huawei, Meizu, Kingdee and other enterprises. The founder Li Kechen was the general manager of Meizu Flyme platform business department and Alibaba technology expert, responsible for mobile Internet technology, cloud, big data, AI, advertising and IT informatization.