AI Company CloudMile Raised $6 Million In Pre-B Series Funding

CloudMile sets eye on Asia, establishing HQ in Singapore and AI R&D center in Taiwan
2019-11-20 14:20 1567

SINGAPORE, Nov. 20, 2019 /PRNewswire/ -- CloudMile, a cloud service provider specialized in artificial intelligence, announced today that it raised $6 million in its Series Pre-B round of venture funding led by CDIB Capital Management, Black Marble Capital Management and Taiwan Cooperative Venture Capital. CloudMile expects to spend the fund on expanding its oversea market and the R&D capacity to accelerate the development of its AI products and provide its clients with premium AI and cloud services. "In the two years since its establishment, CloudMile has been trusted by over 300 clients in Taiwan and Hong Kong," said Spencer Liu the CEO, "To better serve clients in Asia, we plan to enter Singapore officially in 2020. We will base our Operations HQ in Singapore and AI R&D center in Taiwan. CloudMile will advance the Asian market with the synergy of the best talents and technologies."

Founded by serial entrepreneur Spencer Liu in 2017, CloudMile provides enterprises with AI and cloud services. The company successfully build the first example of introducing AI technology into traditional industry of Google Cloud in Taiwan. With significant accomplishments and experiences, CloudMile is the Premier Partner of Google Cloud, and took the lead in acquiring Machine Learning Specialization, Data Analytics Specialization and Infrastructure Specialization. This year, CloudMile has been accredited for its financial, gaming, media, retail and manufacturing expertise by Google Cloud.

These past achievements helped the 3-year-old company earn the recognition of investors, allowing them to raise over 10 million dollars. "Innovation can empower industries with better technologies and promote industrial upgrades. Amongst the many innovative technologies, AI innovation is regarded as the dominant technology that will revolutionize industrial development. In the past few years, CloudMile earned the trust of clients by helping them leverage cloud technology and successfully introducing AI technology to various industries. As a startup platform, CDIB Capital Management helps build bridges for startups to reach international capital and expand their markets. We are optimistic about CloudMile's capability of providing premium AI and cloud services and believe as CloudMile expands its market in Asia, its AI services will assist more Asian enterprises to turn their business models upside down. Due to these reasons, we look forward to collaborating with CloudMile and placing Taiwanese innovation on the global stage," said CDIB Capital Management Consultation Deputy General Manager, Ryan Kuo

CloudMile Builds its International Team to Enter the Asian Market 

This year CloudMile entered the Hong Kong market and rapidly gained the support of clients from media groups, cross-border E-commerce, international retail, and transportation. Building on its experiences in Taiwan and Hong Kong, CloudMile will officially enter the Singapore market in 2020 and set up its Operations HQ in Singapore. According to Spencer Liu, Asia is seen as the next global hub for AI development; and fields such as E-commerce, retail, and manufacturing are regarded as key drivers of growth. Singapore is the leading and central hub for AI development in Asia thus many companies are actively deploying in the area. Thanks to the service experience CloudMile has accumulated in the past two years, CloudMile now has more leverage over the competitive Asian market. CloudMile had already organized a local operation team and technical team in Singapore and plan to gradually shift its operation focus to Singapore to be close to the market. Singapore will be CloudMile's beachhead market as it advances the Asian market.

To build a high-efficient international operations team, CloudMile commissioned Locarno Pan, who has more than 10 years of cloud service-related experience, to oversee the business development work in Asia Pacific and strengthen the CloudMile business ecosystem. Locarno Pan is familiar with the southeast Asian market, the latest technology trends, and market needs. Before joining CloudMile, Pan has served in AWS, Microsoft's cloud infrastructure department, Temasek-owned ST Telemedia (STT). In the future, he will work with CloudMile's Chief Operation Officer, James Kao, an expert of the Greater China region, to expand CloudMile's business, discover more business opportunities, and continue creating new value for clients. 

AI R&D center in Taiwan to Accelerate AI Technology Implementation and Enhance Client's Operating Effectiveness 

In addition to its operations milestones, CloudMile also began investing in product development work since 2019. CloudMile and its partner launched MileCDN, a Multi-CDN management platform that optimizes website performances, strengthens security, and offers China access -- optimal user experience by providing accelerated and reliable access. CloudMile's MarTech company Ainotam also launched Feedlio, an image processing tool powered by AI. In November, Ainotam will introduce Loupe, an AI advertisement management platform that serves as a digital marketing strategy thinktank for clients to help advertisers improve their digital marketing content and performance.

Meanwhile, CloudMile will establish its AI R&D center in Taiwan and invest more R&D resources in retail, gaming, and healthcare. Spencer Liu believes that as the waves of AI technology is reshaping the world, all industries are concentrating on how to leverage the latest technologies. CloudMile's mission is to help enterprises leverage the power of AI and drive growth. CloudMile hopes that its AI R&D center can focus on implementing AI and make it a trusted partner of its clients by delivering them customized services.

CloudMile also announced its talent recruitment project in Taiwan, Hong Kong, and Singapore, hoping to build a stronger local team with the participation of more business and technology talents. The number of employees is estimated to double. By integrating the R&D and technological strength in Taiwan and the power of an international team, Liu is confident that CloudMile will deliver premium AI and cloud services to clients in Asia. For those who are interested in the field of AI and cloud services are welcome to get on board and explore the Asian market with CloudMile.

About CloudMile

Founded in 2017, CloudMile is a leading AI and cloud service provider in Asia dedicated to the development of AI technologies. The mission of CloudMile is to implement AI for its corporate clients and drive growth. Leveraging machine learning and big data analysis, CloudMile assists corporates with business forecast and industrial upgrades. It contributed to the first successful introduction of Google Cloud to and implementation of AI for Taiwan's business in a traditional industry. On top of these, CloudMile offers cloud management applications consultation services and solutions. In addition, its label Ainotam is committed to the research and development of MarTech products to help corporate clients with branding.

CloudMile has earned over 70 accreditations, with over 40 Google Cloud Certificates. CloudMile, the Premier Partner of Google Cloud, is also the first partner that acquired Machine Learning Specialization, Data Analytics and Infrastructure Specialization in North Asia.


About CDIB Capital Group

CDIB Capital Group ("CDIB"), the first private development-oriented financial institution in Taiwan, was established in 1959. In its 60 years of history, CDIB has focused on its principal investments and corporate banking activities. It has invested in and provided financial services for domestic and overseas clients in numerous industries, and continues to play a critical role in further developing Taiwan's private equity and venture capital markets. In recent years, CDIB has broadened its investment activities by managing third party capital from a wide range of sources including high-net-worth individuals, family offices, sovereign wealth funds, pension funds, funds of private-equity funds, insurance companies and banking institutions located around the world.


Source: CloudMile
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