Bespin Global Raises $15 Million in Series A Funding Led by Legend Capital
SEOUL--(Korea Newswire) July 17, 2017 -- Bespin Global, a Seoul and Beijing based cloud IT solutions company, announced that it completed a $15 million Series A round of financing.
Legend Capital led the round and Joon Sung Park, Legend Capital’s Partner, will join the Company’s Board of Directors. The round was joined by Premier Partners, Altos Ventures, Hyosung ITX, and other investors. This investment will enable the Company to aggressively accelerate product innovation, expand its sales and marketing efforts and support ongoing plans to broaden its customer reach.
Bespin Global’s mission is to drive the digital transformation of its clients by helping them adopt cloud IT. Through its highly automated multi-cloud management platform and professional services, its customers are able to leverage everything cloud has to offer in speeding up the digital innovation. Founded in December 2015, Bespin Global has over 200 employees in Korea and China and serves over 150 mid-sized to large companies in the two countries. In April 2017, the Company was nominated to Gartner’s Public Cloud MSP Magic Quadrant, as the only company to be recognized in East Asia.
“Even with the recent rise of the cloud computing, the vast majority of traditional enterprises are still operating in slow and expensive legacy IT environments. The problem is even more acute in Asia. Our job is to unlock the potential of the cloud IT for our customers, who are achieving as much as 70% savings in IT spending through our cloud solutions. Even more importantly, they dramatically increased the speed of innovation,” said HanJoo Lee, Co-founder and CEO of Bespin Global.
Joon Sung Park, Partner at Legend Capital, said “We are excited to support a world-class team with deep experience in both enterprise and cloud IT services and software, a killer combination needed to win in the cloud management category. Bespin is remarkable in that it has already shown a good traction in China, a market that we know very well. Legend Capital is a very active investor in the cloud space in China and globally. We believe the disruption of the legacy IT by cloud represents a massive opportunity and Bespin is uniquely capable of addressing it.”
About Bespin Global
Bespin Global is a cloud focused managed service provider (MSP) that helps mid to large corporations adopt cloud IT. In order to achieve the mission of unlocking the potential of cloud for its clients, Bespin is organized in three groups. The Professional Services (PS) group provides cloud architecture, migration and consulting services. The Managed Services (MSP) group offers 24x7 monitoring, triage, and ongoing optimization services. The Bespin Services Platform (BSP) group develops and markets a multi cloud management SaaS product that automates much of cloud IT operation management. Bespin Global’s team of over 200 employees are experts in Amazon Web Services, Microsoft Azure, Aliyun, IBM Softlayer, and private clouds based on VMWare, Openstack and upcoming Microsoft Azurestack. With offices in Seoul, Beijing, and Shanghai, Bespin Global has gained the trust of over 150 corporate and government clients since its founding in December 2015. In April 2017, the Company was named to the Gartner’s Hyperscale Cloud MSP Magic Quadrant. Information about Bespin Global can be found at http://en.bespinglobal.com.
About Legend Capital
Legend Capital, founded in April 2001, is one of the most established and renowned fund managers in China. As an independent and specialized venture capital fund manager dedicated to China, Legend Capital focuses on early-stage venture capital and expansion-stage growth capital investment. During its 16-year history, Legend Capital has managed and continues to manage USD-denominated and RMB-denominated funds with a total size of over RMB30bn, which demonstrates Legend Capital’s solid fund management experience. Legend Capital has invested in over 300 companies, of which over 50+ companies were listed on New York Stock Exchange, Nasdaq, Hong Kong Stock Exchange or Shanghai, Shenzhen Stock Exchange, and over 40+ investments were exited through M&A or trade sale.