Edianzu Closes $32 Million Series C Led by Source Code Capital

源码资本·March 21, 2018·0·0

On March 21, Edianzu, a major player in enterprise computer leasing services, announced it had raised $32 million in a Series C round led by Source Code Capital, with participation from Shunwei Capital, Matrix Partners China, Hongtai APlus, and Koala Fund.

On March 21, Edianzu, a leading provider of enterprise computer leasing services, announced the completion of its $32 million Series C round led by Source Code Capital, with participation from Shunwei Capital, Matrix Partners China, Hongtai APlus, and Koala Fund.

This marks another milestone for the company after setting an industry record in October 2017 with a single round of RMB 120 million. To date, Edianzu has completed five rounds of financing totaling nearly RMB 500 million. Following this round, the company's valuation has exceeded $200 million.

Edianzu has established new industry standards for IT desktop support services in China. With proprietary service teams in Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou, Wuhan, Chengdu, and Nanjing, the company guarantees on-site IT issue resolution within four hours, with over 99% on-time arrival, more than 80% of issues resolved within four hours, and over 99% customer satisfaction — a dramatic improvement over traditional IT service providers' typical promise of one-day response and three-day resolution, raising industry benchmarks and allowing enterprises to focus on their core business without IT headaches.

Pengcheng Ji, founder and CEO of Edianzu, stated: "Following this Series C round, Edianzu will continue to improve IT service efficiency and expand our premium four-hour on-site service to more cities nationwide. We will also accelerate our national marketing efforts. Enterprise computer leasing has entered a phase of rapid development, and this funding will be directed toward three priorities: refining our product, upgrading our services, and expanding our national footprint."

Charles Chang, Managing Director at Source Code Capital, commented: "Outsourcing non-core business functions is an irreversible trend, with customer demand steadily driving up industry penetration. By切入ing the market through IT equipment, Edianzu pioneered a deposit-free, rent-as-you-go model that not only improves capital efficiency for businesses but also significantly reduces IT management costs and enhances the customer experience. We have strong conviction in the Edianzu team and believe they will continue to create greater value for their clients' IT services."

Annual enterprise PC procurement in China stands at approximately RMB 160 billion, with SME IT procurement at roughly RMB 280 billion annually — yet leasing penetration remains far below the 59% rate seen in the United States. Unlike personal IT consumption, enterprise IT spending requires careful consideration of equipment upgrades, workforce fluctuations, and business expansion.

Edianzu's target customers are primarily Chinese technology companies, an industry in rapid growth where expansion is fast and annual employee turnover can reach approximately 50%. Purchasing IT equipment in this environment easily leads to waste. Moreover, since after-sales service falls to manufacturers, most companies must maintain dedicated IT departments to handle hardware and software issues due to service capacity and coordination gaps.

Leasing helps enterprises conserve cash flow, reduce assets on their books, and minimize routine maintenance. Unlike traditional financial leasing from companies like IBM and HP, Edianzu offers "flexible leasing" with rent-as-you-go terms and a range of hardware-related value-added services built around the leasing model.

As market competition intensifies, business owners must devote more energy to their core competencies while minimizing time spent on non-core functions. For technology companies, IT is not a core business. As owners become more open-minded and labor costs rise, any product that can save money and improve efficiency on the IT front will find ready adoption — with relatively low price sensitivity.

A wave of enterprise consumption upgrading is underway. China's economic vitality is strengthening, competition among businesses is intensifying, and fundamental shifts are occurring in how companies organize themselves and manage assets. SMEs are becoming more agile with strong preferences for asset-light operations; large enterprises, too, are growing more flexible internally through project-based and business-unit structures, increasingly pursuing asset-light models for non-core functions. Against this backdrop, societal demand for asset-light solutions is growing stronger. Through light-asset leasing, equipment utilization and maintenance efficiency improve dramatically, cash flow is eased, and management bandwidth is freed up — simpler and more worry-free.

Whether in office computer leasing or IT support services, the approach starts from fundamental enterprise needs to deliver integrated solutions addressing overall IT challenges and enabling consumption upgrading. Regarding Edianzu's future plans, founder and CEO Pengcheng Ji stated that the company's goal is to build a one-stop IT hardware and software service platform for enterprises.

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