AgotoZ announced the completion of nearly RMB500 million ($77.56M） in Series C financing. The round is led by CICC with participations by new investors NGP Capital and Creo Capital, as well as the existing investors including SIG, Siguler Guff and Legend Capital. The new financing will be used for AgotoZ’s technology improvement in cloud data access, real-time application access and networking flexibility, as well as for new business scenario development and product iteration.
AgotoZ started its operation in 2017. It is the leading NaaS (network as a service) provider in China, providing customers with high-quality, flexible and reliable products, solutions and services in the fields of communication network, IT and cloud services. At present, the company’s R&D personnel accounts for more than 50% of its staff. Most of them have working experience in companies such as IBM, Baidu, Ericsson, Venustech, H3C and the National Information Center etc.
NGP Capital has been actively investing in the enterprise digitization sector recently, including remote work & collaboration, agile development & collaboration, digital operation and AI automation & maintenance, etc.
Ms. Yao Ge, Managing Partner of NGP Capital said, "In recent years, there are many great Chinese start-ups that have been active in the enterprise sectors. AgotoZ is one of the leaders, providing global enterprises real-time network connections with low latency, high reliability, high availability, and high flexibility. China's unique internet ecology has bred many leading user scenarios globally, such as e-commerce, mobile payment, high concurrency, and massive data. With further outbreak of the future user cases demand in enterprises, we believe that AgotoZ will have a great prospect. "
AgotoZ owns multiple patents of ALLWAN, a high-quality virtual private network covering more than 70 countries and regions around the world. With gateway series products and SaaS "AgotoZ Accelerator", AgotoZ is able to break the isolation and restrictions of different networks and turn the complex networking and operation & maintenance management into a simple service mode, helping enterprises connect to the global network with convenience, flexibility and high speed.
According to the test results, after installing the "AgotoZ Accelerator", enterprise users can access files located in AWS cloud in America from Shanghai with latency reduced from 300ms to 190ms, and the packet loss rate reduced from 15% to 0%.
Nowadays, remote work has become a new normal, and new office user scenes such as video call, remote social networking and remote video conference are emerging. AgotoZ is well positioned in the new battlefield of real-time office.
AgotoZ is the pioneer of "NaaS (network as a service)” in China, offering ALLWAN, a virtual private network that covers more than 70 counties and regions around the world. It breaks the isolation and restrictions of different networks and turns the complex networking and operation & maintenance management into a simple service mode for enterprises. AgotoZ works closely with the leading domestic and international VR/AR/MR teams, cloud game companies and the audio and video conference software R&D teams to continuously enrich and explore the real-time network applications in various enterprise work scenarios, so as to speed up the digital transformation for enterprises. At the same time, by integrating the capabilities of security and resource services (computing power, storage, AI ,etc.) into the network, AgotoZ provides enterprises with new network services accessible at any time, as well as higher value to the network constantly while realizing "network is service".