Cue Completes Series A Round of Financing
Capital raise to bolster Cue’s offerings on its leading data technology platform
SHANGHAI – August 13, 2019 – Cue Holdings Limited (“Cue”), a technology company controlled by global investment firm KKR, today announced the completion of its Series A round of financing. The investors in this round of financing are led by leading investment firm Anchor Equity Partners, and include Princeville Global. Founding investor KKR continued to show its commitment in the company by subscribing additional investment. The terms of the financing were not disclosed.
Cue is China’s leading one-stop technology platform dedicated to delivering data-driven marketing insights and growth solutions to leading enterprises. To date, Cue has assisted over 600 top brands in China in making effective, data-driven business decisions through its suite of holistic, integrated technology solutions. Cue’s solutions leverage the company’s unique portfolio of proprietary data sources, differentiated access to key collaborations across media channels and formats, and strong technical capabilities to provide businesses with the tools and analytics to make the right decisions at the right time.
Sky Shi, CEO of Cue, said, “With the completion of Series A round of financing, we are even better positioned to serve our diverse set of clients in China. We are excited to further invest in new technologies and a broader range of media to provide more professional, high-quality solutions to clients. This capital further helps us solidify our market-leading position at a time when brands are seeking creative digital solutions and data strategies to differentiate themselves and better communicate with their customers.”
Sanggyun Ahn, founder and Managing Partner of Anchor Equity Partners, said, “We are delighted to lead this round of financing, and work with Cue, KKR, and Princeville Global. Cue has been a trusted partner empowering its clients with integrated, data-driven, and technology-enabled services to achieve growth and success, while aggregating demand and delivering sustainable growth to publishers and media platforms. As an emerging leader in the space, Cue will continue making tremendous contributions to the digitalization and transformation of the ecosystem.”
Paul Yang, Member and CEO of KKR Greater China, said, “This successful round of financing is a recognition of Cue as a true integrated solution provider with executional excellence, combining online and offline coverage, marketing and technology advantages, global trends and China insights. As China’s enterprises services and digital media industry undergo profound changes, we believe Cue has excellent prospects for growth and the wide-ranging capabilities and expertise to help its clients achieve business success.”
Joaquin Rodriguez Torres, Managing Partner of Princeville Global said, “As we look for the best companies in a particular sector around the world, we have found that Cue has developed world-class technology to help enterprises grow their business. In addition, Cue has been able to achieve scale, growth and profitability which are quite remarkable for enterprise focused recurring business models. We look forward to joining the Cue team and help them continue to develop into a global market leader in the sector.”
The funding will be used to enhance Cue’s digital strategies, for R&D investment, value-added acquisitions and to improve Cue’s products and services. KKR makes its investment from its Asian Fund III.
Cue is a leading one-stop technology platform formed by a partnership of four complementary industry leaders with global investment firm KKR. Cue’s founding members include Qi-xin, a leading digital ad agency; AnG, a leading digital marketing agency; WIN, a leading brand management company; and Wina Tech, a leading SSP and commercial WiFi operator. Combined and integrated, these four businesses give Cue a differentiated approach to digital marketing in China with increased scale, greater technological resources and new integrated capabilities to deliver to clients a full suite of digital marketing solutions and become their partner to accelerate their business growth. Cue’s clientele includes leading consumer brands, financial institutions, online game companies and internet service providers.
KKR is a leading global investment firm that manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate and credit, with strategic partners that manage hedge funds. KKR aims to generate attractive investment returns for its fund investors by following a patient and disciplined investment approach, employing world-class people, and driving growth and value creation with KKR portfolio companies. KKR invests its own capital alongside the capital it manages for fund investors and provides financing solutions and investment opportunities through its capital markets business. References to KKR's investments may include the activities of its sponsored funds. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at www.kkr.com and on Twitter @KKR_Co.
About Anchor Equity Partners
Anchor Equity Partners is a private equity fund with over US$3 billion under management, focusing on buyout, growth capital, and industry consolidation opportunities in the Asia Pacific Region. The founding team is predominantly comprised of former investment professionals from Goldman Sachs Principal Investment Area team in Asia. In all of its investments, Anchor focuses on closely partnering with the right management teams and owners to work on strategic and operational issues and create shareholder value.
About Princeville Global
Princeville Global is the flagship fund of Princeville Capital. The firm focuses on backing rapidly-growing technology-related companies around the world. The firm looks to support entrepreneurs seeking not only capital, but a value-added partner who can help them fulfill their aspirations to create companies of global scale. The firm has a worldwide network of relationships built over decades of experience investing in and advising rapidly growing companies in the technology sector. Princeville Capital has offices in San Francisco, Hong Kong and Amsterdam. Visit www.princeville-capital.com for more information.
For Anchor Equity Partners
Sean Choi, +852 3998 4964
FTI Consulting (for KKR China)
Dee Wang, +86 21 2315 1138
Kristi Huller / Cara Major, +1 212-750-8300