Kaikeba, a Chinese digital talent online education platform that focuses extensively on IT-related courses, has spun out from its parent company, Huike Group, and raised 550 million Yuan ($80 million) in its Series A funding round.
The round was led by Chinese venture capital firm Gaorong Capital and GL Ventures, the VC unit of private equity major Hillhouse Capital. Investment bank Taihecap served as the exclusive financial adviser to the deal, which is said to be the largest single fundraising in the vocational education space in China.
Launched in August 2013 by Huike Group, a leading enterprise in the field of higher education and new vocational education in China, Kaikeba focuses on the systematic IT, Internet and digital fields. It integrates first-line teachers and practical projects of world-renowned IT and internet companies, and provides popular online courses such as Java, Front-end Website Development, Data Analysis, Python, AI, and Internet of Things (IoT), among others. The company claims to have over 4 million paying students on its platform.
Kaikeba integrates different teaching forms such as live broadcast, recorded video, AI interactive script, online programming laboratory, scene interactive courseware, comprehensive test, etc., to meet the diverse learning needs of users in different industries at different stages. It also provides comprehensive talent services to help users achieve career promotion, professional advancement, and sustainable growth.
The Beijing-based talent education platform claims to have strategic cooperation with leading technology and internet firms such as Microsoft, Baidu, Alibaba, Tencent, Huawei, Didi Chuxing, etc.
With the latest funding, Kaikeba plans to increase investment in technological products, especially in the enhancement of its artificial intelligence capabilities. The company also plans to improve its education content, expand the teaching team, and enhance its marketing and brand promotion system.
Huike Group, from which Kaikeba has spun out, has co-trained more than 5 million college students in IT and Internet-related fields with more than 2,000 colleges and universities. The company claims to have over 800 teachers in various disciplines, with more than 95% of them coming from first-line internet companies and well-known universities. Huike Group has last raised Series D round of financing in May 2018 and became the only unicorn with a valuation of more than $1 billion in China’s higher education and new vocational education, according to its website.