- Companies
- XSKY Data Technology
XSKY Data Technology Valuation, Funding & Investors
XSKY Data Technology is valued at $675M as of December 2022.
Last XSKY Data Technology valuation
$675M
Series F · Dec 2022
Last XSKY Data Technology funding round
$12M
Series F · Dec 2022
Cumulative funding XSKY Data Technology raised
$284M
across 8 funding rounds
Key investors in XSKY Data Technology
Qiming Venture Partners
Northern Light Venture Capital
Redpoint
New Enterprise Associates
Tencent
Legend Capital
About XSKY Data Technology
XSKY Data Technology is a Beijing-headquartered provider of software-defined storage solutions. The company contributes significantly to the Ceph open-source project, ranking top three globally in code commits. As Red Hat China's sole storage partner, XSKY serves financial services, telecom, transport, and energy sectors with scale-out NAS and object storage. Partnerships include Intel, Samsung, Dell, and Mellanox for hyper-converged infrastructure.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$675M (Dec 2022)
XSKY Data Technology Valuation
XSKY Data Technology is currently valued at $675M, based on its Series F in December 2022.
XSKY Data Technology's valuation has grown 1.0x from $664M at its Series E in September 2021 to $675M in December 2022, across 2 priced rounds.
XSKY Data Technology valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Dec 2022 | Series F | $675M |
| Sep 2021 | Series E | $664M |
XSKY Data Technology Funding History
XSKY Data Technology has raised a total of $284M across 8 funding rounds.
XSKY Data Technology's first fundraising round was a $3M angel round in July 2015. The most recent completed round was a $12M Series F in December 2022.
XSKY Data Technology funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Dec 2022 | Series F | - | $12M | $675M | - |
| Dec 2021 | Series F | Tencent; V Fund Management; Source Code Capital | $63M | - | XSKY Data Technology, founded in 2015 and headquartered in Beijing, China, specializes in software-defined infrastructure products and services, including converged storage, distributed data storage platforms, and hybrid cloud storage solutions for enterprise-grade distributed storage needs. The company positions itself as a leading data infrastructure technology platform in China. The company announced a Series F funding round in late 2021, raising 400 million yuan ($62.8 million) from investors including Tencent, Source Code Capital, and V Fund Management, matching the specified investors and approximate date of July 12, 2021. This followed an E-round earlier in 2021 led by Kunlun Fund, bringing cumulative financing that year to over 1 billion yuan. XSKY plans to allocate the funds toward enhancing core technology R&D, developing industrial chain capabilities, and improving services for customers in key industries. XSKY competes in the distributed storage space, with total funding reflecting ongoing growth in the sector. |
| Sep 2021 | Series E | Boyu Capital (lead); Kunlun Capital; Northern Lights Foundation; Broad Vision Funds; CICC Alpha; Qiming Venture Partners; Hundsun; Suzhou Yishang; Legend Capital; Hang Seng Electronics; Zhongjin Qianhai Development Fund | $110M | $664M | XSKY Data Technology (XSKY), founded in 2015 and based in Beijing, China, is a provider of enterprise-grade software-defined distributed storage products, focusing on AI storage solutions including AI data lake storage and AI training & inference (T&I) storage. It offers technical architecture and hybrid cloud model data management solutions, positioning itself as China's largest independent distributed AI storage solution provider by installed capacity in 2024 with 10.4% market share. The company has evolved its offerings with technologies like XEDP unified data platform, XGFS high-performance file system, XEOS object storage, AIMesh, and XScale core storage engine for EB-scale unstructured data and AI-driven architectures. On September 3, 2021, XSKY raised CNY 710 million (approximately $110 million) in a funding round led by Boyu Capital, with participation from investors including Legend Capital, CICC Alpha, Hundsun Technologies, Suzhou Yishang, Northern Light Venture Capital, Qiming Venture Partners, Broad Vision Funds, Hang Seng Electronics, and others such as Zhongjin Qianhai Development Fund. This round, referred to as Series E in some sources and leading into Series F, resulted in a post-money valuation of RMB 4.58 billion. XSKY has raised a total of around $333.53M across multiple rounds up to Series F - II, with investors also including Tencent, Source Code Capital, and V FUND. It began generating revenue from AI T&I storage solutions in September 2021 and AI data lake storage in September 2022. The company serves enterprise customers in AI and big data sectors, competing with firms like DMS, and has filed for a Hong Kong IPO as of recent developments. |
| Jul 2020 | Series D | China State-Owned Capital Venture Investment Fund (lead); Qiming Venture Partners | $33M | - | - |
| Apr 2018 | Series C | New Enterprise Associates (lead); Redpoint; Northern Light Venture Capital; Qiming Venture Partners | $38M | - | XSKY Data Technology (also known as Xingchen Tianhe (Beijing) Data Technology), founded in 2015, is a China-based provider of enterprise-grade software-defined distributed storage products, including cloud data storage solutions controlled by virtualization software to boost performance. The company serves sectors such as government, finance, education, transportation, energy, and manufacturing, with products supporting basic and hybrid cloud storage aimed at expanding in the Chinese market. In early 2018, specifically around April 2018, XSKY raised $37.8 million (or approximately $38 million) in its Series C funding round led by New Enterprise Associates, with participation from Qiming Venture Partners, Redpoint China Ventures, and Northern Light Venture Capital, all of whom were returning investors from prior rounds. This followed a $17.4 million Series B in 2017 and earlier rounds including $8 million Series A in 2016 and a $3.1 million pre-Series A in 2015. Subsequently, XSKY raised RMB320 million ($45.3 million) in a Series D round around 2020, led by China State-Owned Venture Capital Fund with Redbud Capital (Tsinghua Holdings affiliate) and Qiming Venture Capital, bringing total funding to $106 million across five rounds. |
| May 2017 | Series B | Qiming Venture Partners (lead); Redpoint; Northern Light Venture Capital | $17M | - | XSKY Data Technology (also referred to as XSky Beijing Data Technology Co.) is a Chinese data storage firm that raised RMB120 million (US$17 million) in a Series A funding round on May 12, 2017, led by Qiming Venture Partners, with participation from Northern Light Venture Capital and Redpoint. The company focuses on enterprise-grade data storage solutions, initially targeting the cloud and virtualization market established around 2017. Qiming Venture Partners followed on in XSKY's subsequent Series C, D, and Series E rounds, which raised $110 million. By 2024, XSKY had transformed into China's largest independent distributed AI storage solution provider by installed capacity, representing 10.4% market share, with solutions including AI data lake storage and AI training & inference storage. |
| May 2016 | Series A | Redpoint (lead); Northern Light Venture Capital | $8M | - | - |
| Jul 2015 | Angel | Northern Light Venture Capital | $3M | - | - |
Who has invested in XSKY Data Technology?
18 investors have backed XSKY Data Technology across its funding rounds, including Qiming Venture Partners, Northern Light Venture Capital, Redpoint, New Enterprise Associates, Tencent and Legend Capital.
Lead investors include Boyu Capital, China State-Owned Capital Venture Investment Fund, New Enterprise Associates, Qiming Venture Partners and Redpoint.
XSKY Data Technology Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Participant | Jul 2015 | ||
| 4 | Lead | May 2017 | ||
| 3 | Lead | May 2016 | ||
| 1 | Lead | Sep 2021 | ||
| 1 | Lead | Jul 2020 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Lead | Apr 2018 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Dec 2021 | ||
| 1 | Participant | Sep 2021 | ||
| 1 | Participant | Sep 2021 | ||
This data is available for Pro users. Sign up to see all 18 XSKY Data Technology investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialXSKY Data Technology Competitors
XSKY Data Technology competitors include listed companies like Kingsoft Cloud and Consensus Cloud, and private ones like Qiniu, Hammerspace, Impossible Cloud and MinIO.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $208M | - | $744M | 3.6x | ||
| Private | - | - | $500M | - | ||
| Private | $7M | - | $470M | 67.1x | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $1.4B | $414M | $2.8B | 1.8x | ||
| Publicly listed | $350M | $166M | $660M | 3.1x |
XSKY Data Technology Public Comps
XSKY Data Technology is still privately-owned, but its public comps include Consensus Cloud, Whitefiber, Inspur, Qnap Systems, CANCOM, Baudroie, 2CRSI, Plus Alpha Consulting, Ucap Cloud Information and Edarat Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $350M | $166M | 3.2x | 3.1x | 6.8x | 5.9x | |||
| $79M | ($2M) | 12.1x | 7.9x | (412.2x) | 25.8x | |||
| $172M | ($31M) | 3.7x | 2.7x | (20.3x) | - | |||
| $196M | $54M | 2.8x | 2.6x | 10.0x | - | |||
| $2B | $118M | 0.4x | 0.4x | 6.3x | 5.7x | |||
| $112M | $24M | 5.2x | 4.3x | 24.7x | 21.0x | |||
| $254M | $8M | 3.0x | 1.2x | 98.0x | 14.7x | |||
| $110M | $36M | 4.2x | 3.8x | 12.9x | 9.4x | |||
This data is available for Pro users. Sign up to see all XSKY Data Technology competitors and their valuation data. Start Free Trial | ||||||||
Common questions about XSKY Data Technology
| When was XSKY Data Technology founded? | XSKY Data Technology was founded in 2015. |
| Where is XSKY Data Technology headquartered? | XSKY Data Technology is headquartered in Beijing, China. |
| Is XSKY Data Technology publicly listed? | No, XSKY Data Technology is a private, VC-backed company. |
| What is XSKY Data Technology's valuation? | XSKY Data Technology was last valued at $675M in its Series F in December 2022. |
| How much funding has XSKY Data Technology raised? | XSKY Data Technology has raised $284M across 8 funding rounds. |
| What was XSKY Data Technology's last funding round? | XSKY Data Technology's last funding round was a $12M Series F in December 2022. |
| Who are XSKY Data Technology's investors? | XSKY Data Technology's investors include Northern Light Venture Capital, Qiming Venture Partners, Redpoint, Boyu Capital, China State-Owned Capital Venture Investment Fund, Kunlun Capital, New Enterprise Associates, Northern Lights Foundation, Broad Vision Funds, CICC Alpha and 8 others. |
| Which companies are comparable to XSKY Data Technology? | Companies comparable to XSKY Data Technology include Qiniu, Hammerspace, Impossible Cloud, MinIO, Kingsoft Cloud and Consensus Cloud. |
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