Facial recognition technology Face++ maker Megvii is said to be raising at least $500 million of new funding at a valuation between $3.5 billion – $4 billion, a round which already existing investor Alibaba is considering being part of.

Bloomberg reports this citing people familiar with the matter. Megvii which has raised about $600 million already from backers including SK Group, Boyu Capital, The Russia-China Investment Fund and Alibaba’s Ant Financial who is also a customer provides facial recognition systems to companies including Vivo, Lenovo, Meitu, China’s leading video sharing platform Kuaishou, China’s largest online dating site Jiayuan and Camera 360.

More than 50,000 customers and developers in total make use of Face++ for tasks ranging from identity verification to 3D facial modelling and online marketing solutions. The company was founded in 2011 by CEO Yin Qi and two college friends and has grown since then to establish itself as a leader in the artificial intelligence commercialization space. It competes with another Alibaba backed company SenseTime, valued at $4.5 billion from its most recent round with well over $2 billion raised so far.