BlueRun Ventures Leads Rounds as Penglai Data Closes Two Consecutive A-Round Financings Worth Hundreds of Millions of RMB Within Six Months | BlueRun Ventures
Further Upgrade Hospital Intelligent Operations Management Services
Recently, Penglai Data, a leading domestic provider of intelligent hospital operations management solutions, announced that it has completed Series A and A+ rounds totaling hundreds of millions of RMB within several months. The Series A was co-led by BlueRun Ventures and Yunqi Capital, with participation from Bojiang Capital, Legend Star, Hanyuan Capital (an SJTU alumni fund), and Nantong Feima. The A+ round was led by YuanSheng Ventures, with follow-on investment from Jima Investment, while existing shareholders Bojiang Capital and Yunqi Capital continued to increase their stakes. Following this financing, Penglai Data will further expand its product pipeline and deliver more efficient services to customers.
Cao Wei, Partner at BlueRun Ventures, said: Under the external pressures of healthcare reform and the pandemic, hospitals urgently need to strengthen digital and refined operations management. Penglai's information products for performance management, cost analysis, and specialty operations well address hospital pain points. Through years of deep cultivation, the company has initially established strong customer reputation and industry influence. We look forward to the company, under CEO Wang's leadership, further leveraging its advantages in data, AI technology, and hospital management to empower the digital and intelligent transformation of China's healthcare industry.
As a new-generation intelligent hospital operations platform provider, Penglai Data has actively aligned with the policy direction of deepening healthcare reform. In 2017, it pioneered a high-barrier integrated performance evaluation system combining RBRVS and DRGs. According to bidding announcements on China Bidding Network (www.zhaobiao.cn), since 2017, this product has consistently ranked first in winning bids by a wide margin. Over the past two years, based on a comprehensive review of operational characteristics across its business lines and in response to national high-quality development goals and healthcare payment reform requirements, the company has deepened its focus on modern hospital management models and promoted innovative applications of digital technology in core scenarios. It has launched an intelligent operations management system centered on lean performance, dynamic costing, intelligent budgeting, and operational excellence to alleviate hospitals' economic pressures, improve medical resource allocation efficiency, and enhance the supply efficiency of core services including medical care, education, research, and prevention.
To date, the company has served nearly 400 hospital clients, over 80% of which are tertiary hospitals, with a customer retention rate of 97%, and has begun promoting a SaaS model. Among the top 100 tertiary public hospitals in the latest national performance assessment, Penglai's clients account for over 20%.
Currently, public hospitals face dual internal and external pressures, making management mechanism reform and upgrading imperative. The latest national assessment data for tertiary public hospitals shows that in 2020, 753 tertiary public hospitals nationwide recorded negative medical surpluses, accounting for 43.5% — an increase of 25.89 percentage points from 2019. Meanwhile, hospitals' total asset turnover continues to decline, with diminishing marginal returns on investment, rendering the extensive growth model driven by investment unsustainable. As DRG/DIP healthcare payment reform accelerates, hospitals urgently need to address their shortcomings in refined management, improve asset and human capital efficiency, and respond to operational pressures. Penglai Data, leveraging its founding team's exceptional capabilities and years of accumulated experience, has emerged at the right moment — its business has entered a rapid growth phase since 2021.
Penglai Data founder Zhigang Wang, a physician by training who has crossed over into hospital management and IT, has served as hospital director, healthcare group executive, and IT company CEO. Since 2016, he has been invited to serve as a lecturer for the National Health Commission's Health Economics Leadership Talent and Reserve Leadership Talent programs, making him a pioneer in modern hospital management. The company has assembled and cultivated an expert team spanning hospital management, mathematical statistics, clinical medicine, big data, and AI engineering. Relying on management knowledge bases and methodological model libraries, and leveraging big data, cloud computing, and artificial intelligence technologies, it achieves dynamic perception, prediction, analysis, decision-making, and optimization across all hospital operations and processes — both internal and external — helping the industry activate production factors and improve healthcare service efficiency.
Zhigang Wang, Founder of Penglai Data
Speaking at the thematic forum of the 16th China Hospital CEO Annual Conference
At the 16th China Hospital CEO Annual Conference, several hospitals shared their experiences with integrated RBRVS and DRG-based performance evaluation systems for single hospitals and multi-campus systems, proposing that "performance reform helps hospitals improve quality and efficiency." They achieved substantial results including "continuously improving CMI and RW values," "using refined cost control to help clinical departments manage controllable costs," and "supporting hospital DRG cost analysis (particularly difficulty index benefit analysis and surgical structure benefit analysis)." Aligning with the "14th Five-Year" development strategy and following the high-quality development of public hospitals, the content, evaluation methods, and assessment weights of performance distribution should be continuously adjusted and improved as the healthcare environment evolves. Furthermore, performance assessments should be configured with different strategies according to each department's characteristics to achieve "one department, one policy."
Penglai Data founder Zhigang Wang stated: "With deepening healthcare reform and the rise of a new wave of digital economy, Penglai Data will focus on complex management scenarios for hospitals and departments. Drawing on our years of deep understanding and accumulated experience in hospital management and digital-intelligent transformation, we will deepen our work on a new-generation intelligent operations management platform based on data, models, and AI algorithms, reconstructing the operational management infrastructure for all types of medical institutions and achieving the leap from product platform to industry platform."
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BlueRun Ventures Co-Leads Penglai Data's Nearly 200 Million RMB Series A | BlueRun Family
BlueRun Ventures was established in Silicon Valley in 1998. BlueRun Ventures China was founded in 2005 and is a venture capital firm focused on early-stage startups.
Currently, BlueRun Ventures China manages multiple USD and RMB dual-currency funds, with assets under management exceeding 15 billion RMB, making it one of the largest early-stage funds in China. Its investment stage focuses on Pre-A and Series A rounds, covering hard tech and innovative interaction, enterprise technology, new consumption, and healthcare. It has invested in over 150 startups, including Li Auto, Waterdrop, QingCloud, Guazi Used Cars, Qudian, Songguo Mobility, Ganji.com, Monster Charging, Yuntu Semiconductor, Machenike, Cloud Saint Intelligence, Anxin Network Shield, and BioMap.
BlueRun Ventures has been ranked first in Zero2IPO's "China Top 30 Early-Stage Investment Institutions" and ChinaVenture's "China Best Early-Stage Venture Capital Institutions TOP30," and was named among Preqin's Top 10 global venture capital fund managers for sustained high returns.
Additionally, BlueRun Ventures has received consecutive honors from Forbes China, 36Kr, Cyzone, Caixin Media, CBNweekly, Jiemian, and other media institutions, including "China Best Early-Stage Institution of the Year," "China Top Venture Capital Institution," "Most Entrepreneur-Friendly Early-Stage Institution of the Year," and "Most Influential Early-Stage Institution of the Year."