Hai Feng Education
海风教育
Hai Feng Education is a K12 online one-on-one tutoring platform founded by Zheng Wencheng, who serves as CEO and chief head teacher . The company positioned itself around a "dual-engine" teaching model combining intelligent AI systems with live instruction, and in April 2018 it launched "Haowangjiao," billed as the first deployed AI application in K12 online education, designed to track student emotions, monitor teaching quality, and personalize feedback .
In January 2018, Hai Feng Education raised tens of millions of dollars in Series C funding from TAL Education Group and Source Code Capital, its second round in six months following a July 2017 Series B . At that time, the platform reported over 4 million registered users, daily peak attendance near 100,000 students, renewal rates above 80%, and complaint and refund rates below 1% . The company also partnered with Meituan's ride-hailing service for a gaokao support campaign in 2018 , and Zheng was recognized as one of the "Top Ten Leaders in Private Education" that year .
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Source Code Capital Closes $570 Million New Fund
Create lasting, real value
Yi Cao of Source Code Capital Named to 2019 Forbes Midas List
Create Lasting, Real Value
2 Companies Close Funding Rounds, 5 Complete Strategic Upgrades, 9 Win 6 Major Awards | Source Code Capital Monthly · January
"Ma Hui Chronicles" documents our members' incremental progress, shares the joy of growth, and looks forward to an even brighter future.
A Solid Finish to 2018, Continued Patient Growth in 2019 | Code Meet Journal · December
"Ma Hui Journal" chronicles the small steps forward of our community members, shares the joy of growth, and looks toward an even brighter future.
Equity services platform YiCan announced it has raised several million dollars in an angel round from Source Code Capital.
"Tech + Consulting" Dual-Driven
Source Code Capital Wins Five Awards Including Zero2IPO's 2018 Top 50 China VC Firms
Create Lasting, Real Value
Source Code Capital and Portfolio Companies Win Multiple Awards at 36Kr's 2018 "King of New Economy"
The King of the New Economy — let us see the future.
Niu Technologies IPO Lands on Nasdaq; 3 Companies Close Funding Rounds; Code Brain Issue 8 Mines India | Code Brain Newsletter · October
【Source Code Capital Newsletter】Here we record the small steps forward taken by our team members, share the joy of growth, and look forward to an even brighter future.
Meituan IPO on Hong Kong Exchanges and Clearing Limited; 4 Companies Complete Funding Rounds; 8 Companies Win 12 Awards | Source Code Capital Monthly · September
**Source Code Capital Chronicles** — recording our teammates' step-by-step progress, sharing the joy of growth, and looking toward an even brighter future.
Source Code Capital portfolio company Yijiupi raises $200 million in Series D funding, co-led by Meituan and Tencent, with existing investor Source Code Capital continuing to increase its stake
Yijiupi (supply chain/retail terminals) + Tencent (WeChat Pay/Mini Programs) + Meituan (in-store/on-demand delivery)
4 Companies Close Funding Rounds, 7 Firms Undergo Strategic Upgrades: Code Brain Issue 7 Breaks Down WeChat Ecosystem and Mini Program User Acquisition | CodeHui Journal · August
【Ma Hui Journal】A place to record the small steps forward of our community members, share the joy of growth, and look toward an even brighter future.
3 Companies Close Funding Rounds, 5 Named to 2018 China Future Unicorn List | Source Code Capital Monthly · July
【Ma Hui Journal】Here we record the small steps forward of our friends, share the joy of growth, and look forward to an even brighter future.
SaaS Business Fundamentals and Value-Add Criteria | Source Code Capital Internal Reference
Bonus Points Beyond the Three Core Business Metrics and Operating Data
Meituan Files for IPO, Three Companies Close Funding Rounds, Code Brain's Sixth Session Visits ByteDance | Ma Hui Journal · June
【Source Code Capital Chronicle】A place to record our teammates' small steps forward, share the joy of growth, and look toward an even brighter future.
Six Companies Upgrade Strategies, Meituan's Xiaoxian Fresh Expands Into Offline Grocery Retail | Source Code Capital Monthly · May
【Source Code Capital Chronicle】A record of our team's small but meaningful steps forward, celebrating growth, and looking toward an even brighter future.
The Fourth Annual Ma Hui Conference Successfully Held, CEOs Gather to Share Entrepreneurship Insights, Four Companies Announce Completed Financing Rounds | Ma Hui Journal · April
**Source Code Capital Newsletter:** Here we record the small steps of progress made by our team members, share the joy of growth, and look forward to an even brighter future.
Three Trillion-Dollar Markets: Founders on Fast and Slow | Source Code Capital 2018 Ma Hui
Decoding the Rhythm of Entrepreneurship
Source Code Capital and Its Portfolio Companies Win 11 ChinaVenture 2017 Annual Awards
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5 Companies Raise Funding, Several Make China's Top 100 Unicorns List | Code Meet Journal · March
【Source Code Capital Chronicle】A place to record the small steps forward of our team members, share the joy of growth, and look toward an even brighter future.
6 Companies Close Funding Rounds, 2 Make Latest Global Unicorn List | Source Code Capital Monthly · January
【Ma Hui Journal】A place to record the small steps forward, share the joy of growth, and look toward an even brighter future.
Asset360 Closes New Funding Round; Existing Investor Source Code Capital Continues to Increase Stake
End-to-end, one-stop services covering the full lending lifecycle — from pre-loan origination and mid-loan management through post-loan collection and resolution.
Hai Feng Education Raises Tens of Millions of Dollars in Series C Funding from TAL Education Group and Source Code Capital
Following its Series B round in July 2017, this marks the second round of funding Hai Feng Education secured within six months.
