IDG-backed big data technology company Baifendian has raised series D funding as it gears up for an initial public offering.

Baifendian, a China-based big data technology provider backed by publisher International Data Group’s local venture capital affiliate, IDG Capital Partners, has closed a RMB 400m ($63m) series D round, China Money Network reported yesterday.

The round was led by securities brokerage firm Everbright Securities. Baifendian has not named any of the round’s other participants.

Established in 2009, Baifendian operates a big data platform for enterprise clients in the e-commerce, manufacturing, financial and telecommunications sectors. The technology analyses consumers’ habits to…