Online education platform hits a new round of fundraising at $80 million

Aug 28, 2020 Education

On August 26th, Chinese online education platform announced it has split from its parent company Huike Group, and independently raised 550 million yuan ($80 million) in its Series A financing. This round of financing was jointly supported by Gaorong Capital and GL Ventures.And Taihecap served as the exclusive financial adviser to the deal. is a talent education platform backed by Huike Group, focusing on IT Internet and digital field. It was launched in August 2013, and at present, it has served over four million paying students.  
"In the context of the industrial upgrading and technological innovation, the vocational education sector dedicated to cultivating digital talents has ushered in a golden era. Gaorong Capital invested in Huike Group back in 2014. Nowadays, has caught the chance in the vocational education sector, which leads the industry. Relying on technological innovation, combines teaching and research capabilities with the needs of the industry, which can better satisfy the needs of talents through up-to-date teaching content and ultimate teaching experience." said Zhang Zhen, founding partner of Gaorong Capital.

Wang Bei, a partner at GL Ventures, said, "the seven-year-old company focusing on digital talent education has demonstrated a strong sense of mission and strategic resolve to continue creating long-term value for talent and employers. We believe that the vision of to build an online education platform for digital talents can cultivate more new talents for the transformation and upgrading of traditional industries empowered by technology. Meanwhile, while the company builds a bridge for IT and Internet practitioners to advance their skills, it will also provide a platform for learners to get started with digital skills."

Fang Yechang, founder and chairman of Huike Group, said: "Digital talent training is an urgent requirement for the development of the new infrastructure and the digital transformation of various industries in China. The digital talent is mainly divided into digital management personnel, digital professionals and digital application personnel. The arrival of new infrastructure era pressed the "fast-forward button" for enterprise’s digital transformation. What’s more, the transformation is not only about technology, but also about talent. Digital transformation can only work if the talent in the business is able to adapt to the speed of the digital age, so that technology and the talent can be matched."

This is an article from Tencent Tech, translated by Chris Yuan.