China · Series D startup

Who invested in Panshi

3 rounds we have observed, with the 4 investors named in them. Every figure came from a named source, and where the company reported a raise to the SEC itself, that is shown beside it.

Advertising & AdtechMartech

Valuation: $1.0B, Oct 2024

Funding summaryUpdated 26 Oct 2026

$540Mraised across 3 rounds since 2011, from 3 sources

$20MSeries A$200MSeries B$320MSeries D
Latest round
Series D, $320MOct 2018
Step-upi
1.6×
Investors
4
See who backed them

The funding story

Each circle is a round, placed by date and sized by amount. The line above is the running total.

20112012201320142015201620172018
$20MSeries A$200MSeries B$320MSeries D
First round
Series A, $20M
Jan 2011
Biggest round
$320M
Series D · Oct 2018
Usual gap between rounds
4.3 years
the median of 2

The rounds

  1. Oct 2018
    Series D$320M1 new
    • CBB

    Reported by China Money Network

  2. May 2015
    Series B$200M2 new1 returning

    From a historical funding record

  3. Jan 2011
    Series A$20M1 new

    From a historical funding record

Who was in which round

The busiest backers across the latest rounds. A filled square is a round they joined; a dark one, a round they led.

Series A2011Series B2015Series D2018NewMargin VenturesWI Harper GroupJD CapitalCBB

Everyone who backed them

NewMargin VenturesVC firm2rounds
WI Harper GroupVC firm1round
JD CapitalPrivate equity1round
CBBno record of our own yet1round

Missing a round, or an investor who was in one? Tell us.

Quick answers about Panshi

Who invested in Panshi?

Panshi's investors include NewMargin Ventures, WI Harper Group, JD Capital and CBB.

How much has Panshi raised?

Panshi has raised $540M across 3 rounds since 2011.

When did Panshi last raise?

Panshi's most recent round was a Series D of $320M in Oct 2018.

What was Panshi's biggest round?

Its most recent round, $320M in Oct 2018, is also its largest on record.

Who backed Panshi first?

Panshi's first round on record, in Jan 2011, was backed by NewMargin Ventures.

What stage is Panshi at?

Panshi's latest named round is a Series D, in Oct 2018.

Where is Panshi based?

Panshi is based in China.

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