36Kr learned that privacy computing company Blue Elephant Zhilian (Hangzhou) Technology Co., Ltd. (hereinafter referred to as "Blue Elephant Zhilian") announced today that it had completed a Series A financing of nearly 200 million yuan. This round of financing was led by Xicheng Jinrui, followed by institutions such as Yuanhe Chongyuan Capital and old shareholder Lenovo Star, and Shanjing Capital served as financial advisor. According to reports, this is also the company's new round of financing after Wanxiang Blockchain seed round financing, Jinshajiang Venture Capital and Lenovo Star Angel round financing.
From the industry perspective, 2020 is called the first year of privacy computing. At that time, due to the policy compliance and risk avoidance requirements and the demand for continued leveraging the value of big data on the business side, a number of privacy computing companies were born in the industry, hoping to make data "available and invisible" through technical means. 2021 is a very special period - when " Data Security Law " and " Personal Information Protection Law " were successively settled, the attention of all sectors of society on privacy protection and privacy computing has also reached a peak. From the perspective of investment and financing alone, there are about 10 privacy computing companies that have publicly announced their new financing within one year.
The protagonist of this article "Blue Xiang Zhilian" is a company that 36Kr continues to report. It was founded at the end of 2019 and focuses on providing financial-grade privacy computing services and products. Judging from the actual implementation progress, within the past two years of its establishment, the company has successively reached cooperation with dozens of financial institutions, operators, and leading Internet companies, including Industrial and Commercial Bank of China , China Telecom , China Mobile, China Unicom , Shanghai Bank , Nanjing Bank , Hangzhou Bank , Guotai Junan , Xinwang Bank and dozens of other financial institutions, operators, and leading Internet companies, and has become the drafting unit of the multi-party security calculation and federal learning related standards of People's Bank of China and the Ministry of Industry and Information Technology.
Previously, 36Kr pointed out that the current trend of privacy computing entrepreneurship is becoming increasingly hot, and the judgment dimension of enterprises can be developed from several levels: product technical capabilities, data source richness, and understanding of financial and other customer business. In this regard, the company's chairman Tong Ling and CEO Xu Min introduced to 36Kr that the characteristics of Blue Elephant Intelligent mainly reflect in product , technology, data operation capabilities, etc.
First of all, in terms of product technology, the main technologies used in privacy computing include multi-party security computing, federated learning, TEE and blockchain, etc. Blue Elephant Intelligent mainly chooses multi-party security computing and federated learning. The former ensures the security of data in the calculation process, and the latter is mainly used for modeling. Currently, based on these two technologies, Blue Elephant Intelligent Network said that it has polished the financial-grade privacy computing platform GAIA (sound: Gaia). It is understood that Blue Elephant's GAIA product series includes multi-party security computing platform GAIA·Edge, one-stop federal learning modeling platform GAIA·Cube, privacy computing alliance sharing platform GAIA·Edge-X, etc.
At the product level, Blue Elephant GAIA products completely adopt an independently developed algorithm library to achieve high-performance and high-security enterprise data application requirements; at the same time, the product has a complete and efficient data preprocessing and feature engineering component library, which is convenient and convenient for users to maximize the convenience of users; it adopts a product design for business flow, which can realize visual modeling through drag and pull, and is compatible with the user's existing data application process with low threshold and zero code; and through convenient and expandable integration capabilities, it can efficiently integrate with various business systems in the enterprise.
At the security system level, Blue Elephant GAIA products realize the architectural layering of cryptography, key management, MPC protocol, and security operators, forming a GAIA security computing engine as a whole; GAIA's own key management system (KMS) is used to manage full life cycle for custody of keys and certificates; at the same time, it realizes auditable, verifiable, and traceable full process at the data flow control security level. GAIA products and smart contract technology combine to carry out the key fingerprint information from generation, collection to circulation and processing on the chain, and maintain transaction accounting for each data sharing through blockchain.
At the product performance level, GAIA products can achieve federated learning model training in the hour based on the independently developed federal algorithm library; at the same time, GAIA products support multiple types of data sources, support the asset release of big data and the privacy collection of billion-level data volumes to be handed over at the minute level.
At present, the GAIA series products have passed the product evaluation of many industry institutions such as Academy of Information and Communications "Special Evaluation of Basic Competencies of Multi-party Security Computing", "Special Evaluation of Federal Learning Security", the National Financial Technology Evaluation Center "Multi-party Security Computing Financial Application Evaluation", and "Information System Security Level Protection-Level 3".
GAIA product map
Blue Elephant GAIA series products have been widely used in many financial and other industry institutions. Xu Min introduced that in terms of multi-party security computing, the "real-time multi-head" sharing platform jointly initiated by UnionPay Data and Xinwang Bank and built on the Blue Elephant Privacy Computing Platform has been connected to hundreds of financial institutions, with an average daily call count of more than 600,000 times. At the level of the federal learning platform, at the end of last year, the results of "Inclusive Financial Services for Small and Micro Merchants Based on Privacy Computing" jointly submitted by Industrial and Commercial Bank of China , China UnionPay , and Lanxiang Zhilian were selected as the benchmark case of big data "Xianhe" in 2021. In this project, Blue Elephant Intelligent provides privacy computing technical support for ICBC and UnionPay . Through its self-developed federated learning product GAIA·Cube, it promotes the circulation and utilization of ICBC and UnionPay data without data leaving the domain and ensuring information security. In terms of effect, Xu Min introduced that through the company's products, customers' access in this scenario has greatly increased, and the average credit scale of households has increased by 30%.
In addition, Tong Ling also told 36Kr that another prominent feature of Blue Elephant Intelligent in addition to technology and products is its data operation capabilities. The core of data operations lies in building the best path to create business value using data elements. In some scenarios such as precise marketing, user growth, anti-fraud, credit assessment, , compliance review, etc. in financial scenarios, data operations can effectively enable data to generate greater business value, such as improving user activity, amplifying credit scale, managing bad risks, etc. The core of data operations is inseparable from several major factors: data, algorithms, traffic, risk control, and compliance. She believes that manufacturers with data operation capabilities need to understand both data and business and scenarios. Lanxiang has established a data operation team since the first day of entrepreneurship. The team members come from major manufacturers such as Ant and Ali , including Huabei, Jiebei and Sesame Credit Team members, with rich experience in driving business through data.
Blue Elephant Zhilian has a dedicated data operation team to provide data operation services to financial institutions using Blue Elephant Zhilian’s privacy computing platform. The main content of data operation services is the provision of data and operation tools, solutions and related services related to the implementation of solutions, including a series of marketing delivery strategies, customer operation strategies, corresponding operation processes and rules, etc. After agreeing on business goals with financial institutions, Blue Elephant Intelligence will decide which data sources to introduce and what strategies and models to adopt based on the customer's business goals. In terms of effect, Lanxiang Zhilian stated that by designing data products and solutions, the value of data contribution in the scenario can be calculated, helping industry institutions to fully combine internal and external data with internal and external data on the premise of safety, compliance and efficiency to mine data value and help business development. So in Tong Ling's eyes, from the perspective of data operations, Blue Elephant Intelligent is more like a partner to help customers achieve business goals.
Tong Ling gave an example to explain that "data operation" can help the bank's credit card center reduce the issuance cost. For example, when a certain city commercial bank conducts credit card marketing in channels such as Toutiao, , Douyin, , in a series of processes such as exposure, clicking, filling out forms, importing, proofreading, and opening cards, due to insufficient supporting data, there are often major user losses in some links. After Lanxiang Zhilian jointly modeling and predicting data from different sources through privacy calculations, it can improve the conversion rate of certain conversion links. In the city's commercial bank's project, by combining China Telecom, Toutiao and the bank's own data, the proportion of card credit card marketing in the credit card marketing process has been nearly doubled, reducing the overall issuance cost by nearly half. Blue Elephant Intelligent can also obtain certain revenue from business results.
36Kr learned that privacy computing company Blue Elephant Zhilian (Hangzhou) Technology Co., Ltd. (hereinafter referred to as "Blue Elephant Zhilian") announced today that it had completed a Series A financing of nearly 200 million yuan. This round of financing was led by Xicheng Jinrui, followed by institutions such as Yuanhe Chongyuan Capital and old shareholder Lenovo Star, and Shanjing Capital served as financial advisor. According to reports, this is also the company's new round of financing after Wanxiang Blockchain seed round financing, Jinshajiang Venture Capital and Lenovo Star Angel round financing.
From the industry perspective, 2020 is called the first year of privacy computing. At that time, due to the policy compliance and risk avoidance requirements and the demand for continued leveraging the value of big data on the business side, a number of privacy computing companies were born in the industry, hoping to make data "available and invisible" through technical means. 2021 is a very special period - when " Data Security Law " and " Personal Information Protection Law " were successively settled, the attention of all sectors of society on privacy protection and privacy computing has also reached a peak. From the perspective of investment and financing alone, there are about 10 privacy computing companies that have publicly announced their new financing within one year.
The protagonist of this article "Blue Xiang Zhilian" is a company that 36Kr continues to report. It was founded at the end of 2019 and focuses on providing financial-grade privacy computing services and products. Judging from the actual implementation progress, within the past two years of its establishment, the company has successively reached cooperation with dozens of financial institutions, operators, and leading Internet companies, including Industrial and Commercial Bank of China , China Telecom , China Mobile, China Unicom , Shanghai Bank , Nanjing Bank , Hangzhou Bank , Guotai Junan , Xinwang Bank and dozens of other financial institutions, operators, and leading Internet companies, and has become the drafting unit of the multi-party security calculation and federal learning related standards of People's Bank of China and the Ministry of Industry and Information Technology.
Previously, 36Kr pointed out that the current trend of privacy computing entrepreneurship is becoming increasingly hot, and the judgment dimension of enterprises can be developed from several levels: product technical capabilities, data source richness, and understanding of financial and other customer business. In this regard, the company's chairman Tong Ling and CEO Xu Min introduced to 36Kr that the characteristics of Blue Elephant Intelligent mainly reflect in product , technology, data operation capabilities, etc.
First of all, in terms of product technology, the main technologies used in privacy computing include multi-party security computing, federated learning, TEE and blockchain, etc. Blue Elephant Intelligent mainly chooses multi-party security computing and federated learning. The former ensures the security of data in the calculation process, and the latter is mainly used for modeling. Currently, based on these two technologies, Blue Elephant Intelligent Network said that it has polished the financial-grade privacy computing platform GAIA (sound: Gaia). It is understood that Blue Elephant's GAIA product series includes multi-party security computing platform GAIA·Edge, one-stop federal learning modeling platform GAIA·Cube, privacy computing alliance sharing platform GAIA·Edge-X, etc.
At the product level, Blue Elephant GAIA products completely adopt an independently developed algorithm library to achieve high-performance and high-security enterprise data application requirements; at the same time, the product has a complete and efficient data preprocessing and feature engineering component library, which is convenient and convenient for users to maximize the convenience of users; it adopts a product design for business flow, which can realize visual modeling through drag and pull, and is compatible with the user's existing data application process with low threshold and zero code; and through convenient and expandable integration capabilities, it can efficiently integrate with various business systems in the enterprise.
At the security system level, Blue Elephant GAIA products realize the architectural layering of cryptography, key management, MPC protocol, and security operators, forming a GAIA security computing engine as a whole; GAIA's own key management system (KMS) is used to manage full life cycle for custody of keys and certificates; at the same time, it realizes auditable, verifiable, and traceable full process at the data flow control security level. GAIA products and smart contract technology combine to carry out the key fingerprint information from generation, collection to circulation and processing on the chain, and maintain transaction accounting for each data sharing through blockchain.
At the product performance level, GAIA products can achieve federated learning model training in the hour based on the independently developed federal algorithm library; at the same time, GAIA products support multiple types of data sources, support the asset release of big data and the privacy collection of billion-level data volumes to be handed over at the minute level.
At present, the GAIA series products have passed the product evaluation of many industry institutions such as Academy of Information and Communications "Special Evaluation of Basic Competencies of Multi-party Security Computing", "Special Evaluation of Federal Learning Security", the National Financial Technology Evaluation Center "Multi-party Security Computing Financial Application Evaluation", and "Information System Security Level Protection-Level 3".
GAIA product map
Blue Elephant GAIA series products have been widely used in many financial and other industry institutions. Xu Min introduced that in terms of multi-party security computing, the "real-time multi-head" sharing platform jointly initiated by UnionPay Data and Xinwang Bank and built on the Blue Elephant Privacy Computing Platform has been connected to hundreds of financial institutions, with an average daily call count of more than 600,000 times. At the level of the federal learning platform, at the end of last year, the results of "Inclusive Financial Services for Small and Micro Merchants Based on Privacy Computing" jointly submitted by Industrial and Commercial Bank of China , China UnionPay , and Lanxiang Zhilian were selected as the benchmark case of big data "Xianhe" in 2021. In this project, Blue Elephant Intelligent provides privacy computing technical support for ICBC and UnionPay . Through its self-developed federated learning product GAIA·Cube, it promotes the circulation and utilization of ICBC and UnionPay data without data leaving the domain and ensuring information security. In terms of effect, Xu Min introduced that through the company's products, customers' access in this scenario has greatly increased, and the average credit scale of households has increased by 30%.
In addition, Tong Ling also told 36Kr that another prominent feature of Blue Elephant Intelligent in addition to technology and products is its data operation capabilities. The core of data operations lies in building the best path to create business value using data elements. In some scenarios such as precise marketing, user growth, anti-fraud, credit assessment, , compliance review, etc. in financial scenarios, data operations can effectively enable data to generate greater business value, such as improving user activity, amplifying credit scale, managing bad risks, etc. The core of data operations is inseparable from several major factors: data, algorithms, traffic, risk control, and compliance. She believes that manufacturers with data operation capabilities need to understand both data and business and scenarios. Lanxiang has established a data operation team since the first day of entrepreneurship. The team members come from major manufacturers such as Ant and Ali , including Huabei, Jiebei and Sesame Credit Team members, with rich experience in driving business through data.
Blue Elephant Zhilian has a dedicated data operation team to provide data operation services to financial institutions using Blue Elephant Zhilian’s privacy computing platform. The main content of data operation services is the provision of data and operation tools, solutions and related services related to the implementation of solutions, including a series of marketing delivery strategies, customer operation strategies, corresponding operation processes and rules, etc. After agreeing on business goals with financial institutions, Blue Elephant Intelligence will decide which data sources to introduce and what strategies and models to adopt based on the customer's business goals. In terms of effect, Lanxiang Zhilian stated that by designing data products and solutions, the value of data contribution in the scenario can be calculated, helping industry institutions to fully combine internal and external data with internal and external data on the premise of safety, compliance and efficiency to mine data value and help business development. So in Tong Ling's eyes, from the perspective of data operations, Blue Elephant Intelligent is more like a partner to help customers achieve business goals.
Tong Ling gave an example to explain that "data operation" can help the bank's credit card center reduce the issuance cost. For example, when a certain city commercial bank conducts credit card marketing in channels such as Toutiao, , Douyin, , in a series of processes such as exposure, clicking, filling out forms, importing, proofreading, and opening cards, due to insufficient supporting data, there are often major user losses in some links. After Lanxiang Zhilian jointly modeling and predicting data from different sources through privacy calculations, it can improve the conversion rate of certain conversion links. In the city's commercial bank's project, by combining China Telecom, Toutiao and the bank's own data, the proportion of card credit card marketing in the credit card marketing process has been nearly doubled, reducing the overall issuance cost by nearly half. Blue Elephant Intelligent can also obtain certain revenue from business results.Tong Ling, founder and chairman of Blue Elephant Zhilian, has served as chief architect of Ant Financial, CTO of Sesame Credit, and founder of Ant Blockchain and Privacy Computing Platform. His team has also gained successful experience in data operation of products such as Sesame Credit, Huabei, Jiebei, Yu'ebao , Online Merchant Loan and other products. Xu Min, another founder and CEO of Lanxiang Zhilian, once worked in the head office of Industrial and Commercial Bank of China. In 2014, he joined Alibaba as vice president of Alibaba Cloud and general manager of Alibaba Financial Cloud Business Department.
Overall, the Blue Elephant Intelligent Team covers fields such as cryptography, federated learning, big data, multi-party security computing, and more than half of the members come from Alibaba and Ant Financial. Blue Elephant algorithm scientist Mao Renxin was the head of Sesame Credit Score of Ant Financial, Huabei, Jiebei, Online Business Post-loan Intelligence, and Alibaba PAI Graph Algorithm. He has written and contributed more than 10 graph algorithm , published Ant's first SCI, leading and participating in more than 40 patents; Product Director Liu Dengtao is the former product director of Alibaba Cloud Ant Financial AI platform, leading the artificial intelligence platform PAI (Platform of Artificial Intelligence) and Ant AI Studio products are implemented and promoted; Chief Architect Wang Chao was previously a senior technical expert of Ant Financial. He served as the technical director of , Ant Commercial Bank , Financial Core, and Ant International. He has led the large-scale architecture upgrade of Ant core payment system many times, promoting the implementation of a million-dollar payment architecture per second; the company's technical director Gu Shengcai was previously a technical expert of Ant Financial's Big Security Division, and has been responsible for the construction of traffic offensive and defense systems, risk control systems, and password security systems. As the head of stability, he participated in the guarantee work of major promotion activities such as Double 11 and Double 12 in previous years.
company's sales and marketing team consists of front-line experts from industries such as finance, operators and government. Among them, sales director Zhang Tinghua was previously the general manager of Alibaba Cloud Shanghai Branch, general manager of Alibaba Cloud Ecological Business Operations Department, and director of Alibaba Financial Cloud; operator industry director Li Quansheng is a former senior operation expert of Alibaba Communications and a former director of electronic channel product of AsiaInfo Technology . He has 15 years of work experience in the communications industry.
It is understood that after this round of financing, the company will strengthen underlying technology research and development, data operation and customer service, enhance the implementation ability of Blue Elephant Intelligent Products in financial and other scenarios, and further strengthen the talent layout.
About investment:
Xicheng Jinrui Executive Partner Huang Pu said: In the context of digital economy , privacy computing is a key technology to make data a data element and thus promote the economic development of . The development of the privacy computing industry is the process by which data elements promote the development of the digital economy. Therefore, what is more important than the development of the privacy computing industry itself is the development of the "privacy computing +" industry. The Blue Elephant Intelligent Team is one of the few experiences in the digitalization of the privacy computing product technology capabilities and the "privacy computing +" industry, and has been initially verified in industries such as finance.
Jinshajiang Venture Capital Managing Partner Zhu Xiaohu said: With the country's emphasis on the standardized development of data elements, privacy computing, as the basic technology of the data track, has broad imagination space. Through the development in the past two years, Lanxiang Zhilian has demonstrated the strength of leading companies in many fields, and has also been successfully implemented in many leading institutions such as ICBC and China Telecom. I believe that after this round of financing, Blue Elephant Intelligent Alliance will achieve faster development and implement privacy computing and various applications in more industry customers.
Lenovo Star partner Gao Tianyao said: Lenovo Star invested in Blue Elephant Intelligent before 2020. Over the past year, Blue Elephant Intelligent has made great progress in many fields such as technology, products, and market. With the in-depth application of privacy computing technology in various industries and multiple fields, I believe that Blue Elephant Intelligent Alliance will show more strength and allow data elements to flow safely, orderly and controllably in more industry applications, promoting the healthy development of various industries.
Yuanhe Chongyuan Investment Partner Li Weiqi said: Yuanhe Chongyuan has always practiced the long-term investment route in the ABCI field and has invested in many influential digital enterprises in various scenarios. Through more than 18 months of research on the privacy computing track, we are honored to move forward with Blue Elephant Intelligence.Blue Elephant Intelligent has rich enterprise-level experience, excellent product technical capabilities, and in-depth application of data, and has been verified by the leading customers in production systems in many industries such as finance, operators, and government. Through this round of financing, Yuanhe Chongyuan will inject stronger development momentum and Yuanhe resources into Lanxiang Development, promoting its and industry growth.
Blue Elephant Intelligent has rich enterprise-level experience, excellent product technical capabilities, and in-depth application of data, and has been verified by the leading customers in production systems in many industries such as finance, operators, and government. Through this round of financing, Yuanhe Chongyuan will inject stronger development momentum and Yuanhe resources into Lanxiang Development, promoting its and industry growth.-
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