Chinese edtech firm Kaikeba secures $93m in Series B1 round

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Beijing-headquartered online vocational education platform Kaikeba.com announced on Monday that it has closed its Series B1 round of financing raising 600 million yuan ($93 million). 

While it didn’t disclose the names of the investors, it said Chinese investment bank Taihecap facilitated the transaction. 

The new development came roughly a year after it spun off the vocational education platform from its parent company Huike Group, which independently raised 550 million yuan ($85 million) in its Series A round from Gaorong Capital and GL Ventures in August 2020. 

Kaikeba plans to use the funding to upgrade its vocational education business and improve brand management. 

Kaikeba, which believes it can help users achieve sustainable career development, is ramping up efforts to transform itself from IT-related online education services to offer multi-discipline courses in fields of design, data intelligence, human resource, engineering, and management, among others. 

Kaikeba offers live-streaming classes, pre-recorded short videos and an online interactive community as it gears up to provide personalised learning experiences. 

In its latest statement, Kaikeba said it registered nearly 3.5-fold year-on-year growth in its earnings in the first half of this year.

Launched in 2013 by Huike Group, Kaikeba claims to have garnered 5 million premium memberships, alongside 3,500 teachers. 

According to a report by Chinese market research institute 100ce.cn, the country’s vocational education industry saw funding worth 4.34 billion yuan ($670 million) in the first half of this year. Amongst those who have raised capital are IDG-backed Fenbi Education and Yunxuetang, among others. 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.