Huike Group's IT education spinoff has secured $79.7m from Gaorong Capital and GL Ventures seven years after it was launched.
Kaikeba.com, a China-based IT education provider spun off by educational services firm Huike Group, has raised RMB550m ($79.8m) in series A funding, DealStreetAsia reported on Wednesday.
The funding was supplied by venture capital firm Gaorong Capital and GL Ventures, a VC vehicle for investment firm Hillhouse Capital, according to a WeChat post by investment bank Taihecap, the financial adviser for the transaction.
Formed in 2013, Kaikeba offers online courses covering IT, internet and digitalisation-related subjects such as website creation, front-end application development and data analysis to a user base of more than 4 million paying students.
The company, which has not disclosed any earlier financing, will allocate the funding to the upgrading of its artificial intelligence capabilities and strengthening its educational content along with marketing.