Primavera Capital Co-Leads Series D Financing for 4Paradigm
4Paradigm, a leading provider of artificial intelligence platform and technology services, today announced the completion of a $700 million Series D round financing led by Primavera Capital Group and several other PE investors. The round attracted strategic shareholders including the National Manufacturing Transformation and Upgrading Fund, China Development Bank, China Reform Holdings, China Jianyin Investment, CSC Financial, and Haitong Securities, as well as other financial investors. 4Paradigm plans to use the funds to further accelerate its development in key industries to build an AI-enabled enterprise-level ecosystem and to cultivate cutting-edge AI industry talent.
Founded in 2014, 4Paradigm focuses on using machine learning platforms to provide intelligent decision-making solutions for enterprises. Leveraging its industry-leading machine learning technology and the team’s rich practical experience in the industry, 4Paradigm has been helping customers conduct smart, high-quality upgrades through AI, accelerating the transformation process of traditional industries, improving the operational efficiency of enterprises and unleashing new growth potential over the years.
Stephen Zhang, Partner at Primavera Capital, said, “The high-tech industry, represented by artificial intelligence, machine learning and big data application is a key area of long-term focus for Primavera. The domestic AI industry has now entered the stage of large-scale applications. Various industries and government agencies have increased their investment in the area, and the market has shown a rapid development trend. As one of the strongest companies in AI applications in China, 4Paradigm’s platform solutions can be applied to various types of scenarios from anti-fraud to intelligent marketing, serving customers from various industries.”
“Through long-term investment in industry leaders, Primavera has formed a strong investment ecosystem in finance, consumer retail, healthcare, education, advanced manufacturing, logistics and other fields. The synergies between Primavera’s portfolio companies are leveraged extensively. For example, Yum China has become a customer of 4Paradigm. Primavera will continue to provide long-term support for the development of 4Paradigm.”
In the six years since its establishment, 4Paradigm has expanded its business scope from the financial industry into retail, manufacturing, energy, government, medical, internet, media, logistics, agriculture, and high-tech, amongst others. Following the accelerated enterprise digitalization brought on by the Covid-19 pandemic, 4Paradigm has used AI to enhance the operational capabilities of many clients, helping enterprises to maintain business continuity while capturing the changing needs of end consumers and expanding new businesses.
In order to further accelerate the scaling of its AI infrastructure and to empower various industries, 4Paradigm continues to improve its enterprise-level AI products and has launched products such as Sage AIOS, Sage HyperCycleML, Tianshu, and SageOne in 2020. This comprehensive AI product matrix includes computing power, operating systems, production platforms and business systems, which helps clients to build a standardized AI infrastructure which is easy to adopt.
Taking into account its strong track record in the successful commercialisation of its products, its unique technological strengths, and its comprehensive enterprise product suite and AI ecosystem, 4Paradigm has been named the No. 1 machine learning platform in market share between 2018 and H1 2020 by IDC China and ranked No. 1 in the Leaders quadrant of Forrester Machine Learning Platform Wave.