Security, Software

SaaS Firm Raises Funds From Chinese Property Developer

Shanghai-based data storage and security SaaS firm Owtware Technology Ltd. says it has raised US$15 million.

Zhongnan Capital, a direct investment fund under Chinese property and construction conglomerate Zhongnan Holdings Group Co., Ltd., invested the money into the Shanghai enterprise software company.

Founded in 2011, Owtware previously received nearly US$10 million series A financing from Singapore's SIG in 2012.

In 2013, the company launched a Desktop as a Service product called iConn, allowing companies in various industries to manage back-end responsibilities of data storage, backup, security and communication.

Today, Owtware's products covers virtual desktop, virtual services, virtual data storage, document sharing and enterprise services.

But a visit to the company's website at Owtware.com reveals some oddities. First, the copyright on the website has not been updated since 2014. Next, the user registration and login area of the website lack SSL security on their respective pages, so that means a possible security problem. And the SSL certificate for the website uses SHA1 signature, which should have already been updated to a SHA2 signature.

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