Changyang Tech Revenue, Valuation, Funding & Investors

Changyang Tech is valued at $861M as of December 2022, a 5.2x multiple on its last reported $167M revenue.

Last Changyang Tech valuation

$861M

Series F · Dec 2022

Last Changyang Tech funding round

$43M

Series F · Dec 2022

Changyang Tech revenue

$167M

Series F · Dec 2022

Key investors in Changyang Tech

  • Shenzhen Capital Group
  • Baidu Ventures
  • Co-Stone Venture Capital
  • NewMargin Ventures
  • CITIC Securities
  • Fenghou Capital

Changyang Tech Overview

About Changyang Tech

Changyang Tech is a Beijing-based provider of industrial Internet of Things security solutions, offering seven product lines such as vulnerability scanners, terminal security gateways, and big data analytics platforms. Its systems protect manufacturing facilities in power and oil sectors across China.


Founded

2017

HQ

ChinaBeijing

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Revenue

$167M (Dec 2022)

Valuation

$861M (Dec 2022)

Changyang Tech Valuation

Changyang Tech is currently valued at $861M, based on its Series F in December 2022.

The $43M round was led by Ally Capital, with participation from Anlan Capital and Jingtai Investment.

Changyang Tech valuation by funding round

Changyang Tech valuation by funding round
DateStageValuationRevenue Multiple
Dec 2022Series F$861M5.2x

Changyang Tech Revenue

Changyang Tech's latest recorded revenue is $167M, as of its Series F in December 2022. At a $861M valuation, that implies a 5.2x revenue multiple.

Changyang Tech revenue by funding round

Changyang Tech revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Dec 2022$167M$861M5.2xSeries F

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Changyang Tech Funding History

Changyang Tech has raised a total of $126M across 5 funding rounds.

Changyang Tech's first fundraising round was a $3M Series A in October 2018. The most recent completed round was a $43M Series F in December 2022.

Changyang Tech funding rounds

Changyang Tech funding rounds
DateStageInvestorsRaisedValuation
Dec 2022Series FAlly Capital (lead); Anlan Capital; Jingtai Investment$43M$861M
May 2021Series EHaidian Guotou (lead); Cornerstone Capital; Baidu Ventures; Shenzhen Capital Group; Shanghai Dingzhang; Jingxi Wenchuang Jijin; Joint Fortune Capital$27M-
Mar 2021Series DGuoyuan Capital; Shenzhen Capital Group; United Capital PLC$31M-
Aug 2020Series CChina Overseas Venture Capital (lead); Zhonghai Investment; NewMargin Ventures; Restone Capital; Fenghou Capital; Cornerstone Ventures; CITIC Securities$22M-
Oct 2018Series ABaidu Ventures (lead); Co-Stone Venture Capital$3M-

Who has invested in Changyang Tech?

20 investors have backed Changyang Tech across its funding rounds, including Shenzhen Capital Group, Baidu Ventures, Co-Stone Venture Capital, NewMargin Ventures, CITIC Securities and Fenghou Capital.

Lead investors include Ally Capital, Haidian Guotou, China Overseas Venture Capital and Baidu Ventures.


Changyang Tech Investors

Investors in Changyang Tech by funding rounds participated
InvestorHQRoundsRoleFirst check
Baidu VenturesChinaBeijing2LeadOct 2018
Shenzhen Capital GroupChinaShenzhen2ParticipantMar 2021
Zhonghai InvestmentChinaBeijing1ParticipantAug 2020
NewMargin VenturesChinaShanghai1ParticipantAug 2020
Guoyuan CapitalChinaHefei1ParticipantMar 2021
Restone CapitalChinaShanghai1ParticipantAug 2020
Haidian GuotouChinaChina1LeadMay 2021
China Overseas Venture CapitalChinaChina1LeadAug 2020
Ally CapitalChinaShanghai1LeadDec 2022
Cornerstone CapitalChinaBeijing1ParticipantMay 2021
Fenghou CapitalChinaBeijing1ParticipantAug 2020
Anlan CapitalChinaShanghai1ParticipantDec 2022
Jingtai InvestmentChinaShenzhen1ParticipantDec 2022

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Changyang Tech Competitors

Changyang Tech competitors include listed companies like Aeva and CE Info Systems, and private ones like proteanTecs, Greenlabs, COSMOplat and Tractian.

Public and private companies comparable to Changyang Tech
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
proteanTecsIsraelHaifaPrivate$60M-$600M10.0x
GreenlabsSouth KoreaSeoulPrivate$218M$145M$840M3.9x
COSMOplatChinaShanghaiPrivate--$1B-
TractianUnited StatesUnited StatesPrivate--$720M-
AevaUnited StatesUnited StatesPublicly listed$18M($139M)$1.1B35.6x
CE Info SystemsIndiaIndiaPublicly listed$49M$20M$508M8.7x

Changyang Tech Public Comps

Changyang Tech is still privately-owned, but its public comps include Yubico, Yunding Technology, Rapid7, Riskified, BeiJing Certificate, Queclink, Asiainfo Security, Mitek Systems, NSFOCUS and CANCOM.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Yubico$226M$19M3.3x3.2x39.7x25.6x
Yunding Technology$228M$22M3.6x-37.9x-
Rapid7$860M$63M1.3x1.3x17.4x6.8x
Riskified$345M($31M)1.8x1.6x(20.3x)19.0x
BeiJing Certificate$125M($12M)6.7x-(70.9x)-
Queclink$133M$12M4.8x4.2x51.7x29.5x
Asiainfo Security$1.2B($11M)1.2x1.1x(126.2x)339.7x
Mitek Systems$180M$37M4.1x3.7x19.9x11.2x

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Common questions about Changyang Tech

When was Changyang Tech founded?Changyang Tech was founded in 2017.
Where is Changyang Tech headquartered?Changyang Tech is headquartered in Beijing, China.
Is Changyang Tech publicly listed?No, Changyang Tech is a private, VC-backed company.
What is Changyang Tech's valuation?Changyang Tech was last valued at $861M in its Series F in December 2022.
How much funding has Changyang Tech raised?Changyang Tech has raised $126M across 5 funding rounds.
What was Changyang Tech's last funding round?Changyang Tech's last funding round was a $43M Series F in December 2022, led by Ally Capital.
Who are Changyang Tech's investors?Changyang Tech's investors include Baidu Ventures, Shenzhen Capital Group, Zhonghai Investment, NewMargin Ventures, Guoyuan Capital, Restone Capital, Haidian Guotou, China Overseas Venture Capital, Ally Capital, Cornerstone Capital and 10 others.
What is Changyang Tech's revenue?Changyang Tech's latest recorded revenue is $167M (December 2022).
What is Changyang Tech's revenue multiple?Changyang Tech's latest valuation implies a 5.2x revenue multiple ($861M valuation on $167M of revenue).
Which companies are comparable to Changyang Tech?Companies comparable to Changyang Tech include proteanTecs, Greenlabs, COSMOplat, Tractian, Aeva and CE Info Systems.

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