Disruptive technology in the United States obtains an advantage with the new strategic investors from China
Chinese technology is globalizing. You do not have to look far to see the signs. As one of the biggest indicators, technology titans China are investing heavily in new technology companies in the United States, particularly those with a disturbing edge.
Social Finance Lender market (SOFI) in San Francisco has funding that has its roots in China. Joe Chen Renren is earlier Sofi investor and one of his biggest sponsors also.
Chen and CEO Mike Cagney Sofi first connected at a meeting of Stanford in 2011 through an acquaintance, and Chen had suddenly invested $ 4 million in Sofi, advice Cagney funds needed to be more aggressive. A year later, Sofi raised $ 81 million, again with Chen on board and David Chao venture firm DCM. Cagney credited Chen's enthusiasm for service, specializing in refinancing student loans and provided $ 1,750 million since its inception in 2011 to help open the door to additional funding.
Earlier this February, Sofi closed a $ 235 million funding, bringing its total capital increased to $ 399 million with such big names as Peter Thiel participants.
A second example of this trend is EyeVerify, a startup biometric technology in Kansas City. EyeVerify raised $ 6 million in Series A equity financing in August 2014. Chinese mobile security company Qihoo 360 was one of three investors, Sprint and Wells Fargo also participate.
EyeVerify CEO Toby got fever introduction to strategic investor Qihoo 360 across China business development pro David Sullivan and his team in Group Development Alliance. Fever Sullivan credited for helping him get comfortable with an investor of China. "It's a different world, with different expectations," says Rush. Another hesitation was like dealing with Qihoo could affect "where we go in China in the future" with other potential partners.
But having NYSE listed Qihoo 360 as a door opener to additional contracts within the company and expand its reach elsewhere was a no-brainer. Mike Liao, recently appointed director of strategic initiatives Qihoo 360 in the Valley - another indication of the scope of China technology - is on the board of EyeVerify.
Once funding is secured, Rush is now focused on making their patented incorporate biometric technology, which is used in the financial services, healthcare, mobile security and government.