Hai Feng Education Announces Completion of C+ Round, TAL Education Group and Source Code Capital Lead Additional Investment

源码资本·July 4, 2018·0·0

Technology-Driven · Personalized Learning

On July 4, Hai Feng Education, a leading K12 online one-on-one tutoring brand, announced the completion of its Series C+ round. This marks the company's second funding round within six months, following its Series C round in January 2018.

The total Series C funding exceeds $100 million, co-led by TAL Education Group, Source Code Capital, and a sovereign wealth fund, with existing investors Yonghua Investment and Lingyi Venture Capital participating.

According to reports, Hai Feng Education has surpassed 5 million registered users, with new student month-over-month growth consistently above 50% and existing student renewal rates maintained above 80%. Notably, Hai Feng Education has achieved growth exceeding 500% annually over the past three years, with this year's growth expected to reach 700-800%. The proceeds from this round will accelerate investment in proprietary curriculum design and courseware development, expand both online and offline market channels, advance online education platform development, cultivate tech talent for emerging education markets, and facilitate the upgrading of the education industry.

Hai Feng Education adheres to its mission of "using love and technology to make personalized education accessible to all," building a closed-loop learning methodology around each student's "preview, attend class, practice, review, assess, establish methods, develop habits, and reflect on mistakes" — distinguishing itself from traditional online PPT-based courseware models. The company has also implemented AI-powered learning assistance features.

On this, Yungang Huang, Partner at Source Code Capital, stated: "Hai Feng Education is the fastest-growing startup in the online one-on-one segment over the past two years, with the best user retention. On key metrics such as student engagement and average monthly class consumption per student, they are more than twice the industry average. Sustaining this industry leadership stems from their heavy early investment in building out their teaching research products, instructional model, and teacher team. Hai Feng's current product portfolio will also be at the core of the online education industry's explosive growth over the next decade."

Driven by its passion for technology and relentless pursuit of teaching quality, Hai Feng Education has once again earned the favor and recognition of industry giant TAL Education Group. "TAL's additional investment represents strong recognition of Hai Feng Education's team and teaching products, as well as continued confidence in its business development," said Jiangwei Ma, Head of TAL Education Group's Academic Product Center and Assistant Vice President. "Going forward, we look forward to exploring more collaboration with Hai Feng Education in areas such as 'Internet + Education' and 'AI + Education,' jointly enhancing the innovation and vitality of online education."

Wencheng Zheng, Founder and CEO of Hai Feng Education, revealed that "the two sides have already embarked on deep cooperation in teacher talent pipeline development and teaching research direction."

According to reports, Hai Feng Education has achieved major breakthroughs in building its "intelligent teaching + live teaching" dual-engine instructional system within six months. In March and April, Hai Feng Education officially launched its latest major R&D achievements: the Hai Feng Parents Committee App, the intelligent learning hardware Hai Feng Zhixue Pad, and "Haowangjiao," the first AI teaching application in online education — filling three major gaps in K-12 education and introducing a new brand philosophy: "Technology-Driven · Personalized Education."

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