Hai Feng Education Raises Tens of Millions of Dollars in Series C Funding from TAL Education Group and Source Code Capital

源码资本·January 4, 2018·0·0

On January 4, Hai Feng Education, a K12 online one-on-one tutoring brand, announced the completion of its Series C funding round of tens of millions of US dollars from TAL Education Group and Source Code Capital.

On January 4, Hai Feng Education, a K12 online one-on-one tutoring brand, announced the completion of its Series C funding round worth tens of millions of US dollars from TAL Education Group and Source Code Capital.

This marks Hai Feng Education's second funding round within six months, following its Series B round in July 2017. With this new capital, Hai Feng Education will continue investing in technology and teaching R&D, strengthening its dual-engine teaching system combining "intelligent instruction + live instruction."

In 2017, Hai Feng Education's new student growth rate remained above 50% month-over-month, with registered users exceeding 4 million and students covering all provinces and regions including Hong Kong, Macau, and Taiwan.

Currently, the platform's daily peak of students attending classes has reached nearly 100,000. Over the past four years, Hai Feng Education has invested over 100 million yuan in teaching and technology R&D. Combined with its VIP after-sales teaching service experience, the company has focused on building an industry-leading "intelligent instruction + live instruction" dual-engine teaching model, earning strong market reputation. Presently, Hai Feng Education's student renewal rate remains above 80%, with course complaints and refund rates both below 1%.

Through dedicated R&D of new technologies and relentless pursuit of teaching quality, Hai Feng Education has continuously won the favor of capital markets. TAL Education Group, an industry leader that has been aggressively expanding its "AI + education" footprint in recent years, was drawn precisely by Hai Feng Education's investment in technology and teaching research. The two parties' future collaboration in exploring AI-powered intelligent instruction is worth anticipating.

Yungang Huang, Partner at Source Code Capital, stated: "The online K12 education market represents rigid demand. The market is still in its initial stage with substantial room for growth. What attracts us to Hai Feng Education is not only the company's most solid growth quality in the industry, but also its unwavering pursuit of teaching quality and educational technology."

While strengthening technology investment, Hai Feng Education has consistently upheld its unchanged educational philosophy. Since its founding seven years ago, Hai Feng Education has adhered to three core principles in its teaching services: "students first, transparent classrooms, and teaching people to fish."

"Students first" has always been Hai Feng Education's top strategic priority. Scale expansion and business development must both be premised on guaranteeing teaching service quality and customer experience. To better serve students and parents, company founder Wencheng Zheng personally serves as chief homeroom teacher for all Hai Feng students, opening an exclusive channel for all students and parents to ask questions and receive answers, and regularly visiting students' homes to hear their and their parents' feedback, continuously optimizing Hai Feng Education's teaching and service systems.

"Transparent classrooms" means Hai Feng Education always encourages parents to sit in during lessons, providing the most direct supervision of teachers' instruction. Even when parents cannot accompany their children to class due to work or other reasons, Hai Feng provides course playback functionality, allowing parents to understand course progress at any time. After each lesson, teacher feedback is immediately pushed to parents' phones, enabling them to stay informed about their children's learning progress.

"Teaching people to fish" means Hai Feng Education requires teachers not only to teach students how to solve problems, but to spark students' interest in learning, helping them fall in love with learning through Hai Feng's classrooms and master correct learning methods.

"We remain true to our original aspiration because we are determined to become a respected century-old education enterprise," said Wencheng Zheng, Founder and CEO of Hai Feng Education. "Looking at any company in the world with history and substance, what has carried them to where they are today is certainly not blind expansion, but rather settling down to do good products and services well, continuously accumulating user口碑."

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