Corporate Training SaaS Provider CoolCollege Raises Hundreds of Millions of Yuan in Series B Led by Source Code Capital

On November 8, CoolCollege announced the completion of its Series B financing of several hundred million RMB. The round was led by Source Code Capital and Cathay Capital, with additional investment from Qiming Venture Partners, Yunqi Capital, and Toutiao Capital. To date, CoolCollege has raised five rounds of funding, making it the fastest-growing company in the enterprise training sector and an acknowledged dark horse in the industry.

According to the latest data from iResearch's China Enterprise Training Industry Research Report, the enterprise training market reached 164.4 billion RMB in 2020. Amid the trend toward digital learning in enterprises, technology is becoming the key to transforming traditional corporate training. Starting from an online learning and exam platform, CoolCollege has successively built out an enterprise training digitalization platform and a digital talent development platform, dedicated to helping companies improve workforce efficiency and drive revenue growth. According to official figures, CoolCollege's flagship product has maintained over 200% annual growth for four consecutive years, serving a cumulative total of 100,000 domestic and international enterprises and 20 million users, including several thousand paying clients with a renewal rate exceeding 90%.

I. Product Innovation in Its DNA: Defining the Future of Enterprise Training SaaS

As an internet company committed to using technology to enhance organizational capability, CoolCollege addresses challenges like knowledge transfer and talent replication through its SaaS platform. When discussing product planning, founder Junwu Hua clearly articulated a development blueprint that also points to emerging trends for the entire enterprise training and talent development industry:

• First-generation product: Online learning and exam platform tools — simple, user-friendly training tools for clients.
• Second-generation product: Enterprise training digital operating system — digitizing the entire workflow of training management personnel.
• Third-generation product: Enterprise talent development platform — based on promotion and qualification systems, enabling rapid replication of talent aligned with business strategy.
• Fourth-generation product: Organizational capability enhancement platform — through business innovation systems, helping companies build invisible growth curves and integrated talent selection, utilization, cultivation, and retention services, covering organizational diagnosis, identification, and talent inventory to solidly boost organizational capability.
• Fifth-generation product: The "enterprise brain" — using knowledge as a connector to integrate all links, truly establishing an enterprise ecosystem that coexists and co-evolves with business operations, achieving symbiotic development of talent, business, and organization.

Enterprise Training and Talent Development Platform

Over four years, CoolCollege has sprinted forward, tightly aligned with this product iteration roadmap. With extreme product capability and a spirit of co-creation with customers, it has continuously reshaped industry perceptions — from follower to thinker to leader — becoming a vanguard in enterprise training SaaS at remarkable speed.

II. We Are Our Own First Customer

Since its founding, CoolCollege has maintained high-speed growth, underpinned by extreme product experience and marketing service capabilities. Behind these deceptively simple yet difficult-to-achieve strengths lies formidable organizational power and team culture.

CoolCollege founder Junwu Hua stated: "CoolCollege is the first user of our own product. All feature innovations, product designs, business structuring, process systems, and learning experiences must first be proven internally before market release. If our own organizational capability and talent development are inadequate, how could we persuade clients to trust our products and services?" Based on this philosophy, CoolCollege has built an industry-leading talent development system. Now, when teams visit clients, they begin by sharing their own growth journeys and learning projects — a model that proves far more authentic and effective for communicating product value. The core of CoolCollege's rapid four-year growth is an ecosystem-linked, product-led growth (PLG) model. Going forward, CoolCollege will not only continue precise marketing to traditional 2B mid-to-large enterprise clients but also launch individual and team versions, dedicated to building the most user-friendly products and sustaining growth through product excellence.

With its emphasis on product experience and strong mission-driven culture, CoolCollege has attracted substantial high-end talent, assembling experienced teams across functions with distinguished backgrounds and strong execution capabilities. The core team hails from Fortune 500 companies including HP, IBM, Oracle, Huawei, Alibaba, and Tencent, with over 20% at the level of senior directors from major tech companies. This exceptional team-building capability stands as one of CoolCollege's core competitive advantages.

III. High Growth Through Rapid Product Iteration and Service Responsiveness

China's 14th Five-Year Plan encourages listed companies and industry leaders to develop vocational education. Grounded in this national plan and CoolCollege's longstanding mission to "connect the resources and capabilities that Fortune 500 companies use to empower employees to 43 million enterprises and organizations," CoolCollege took the lead in 2021 to establish industrial talent training programs. It partnered with industry leaders including Alibaba Rural Taobao, Country Garden Services, Sensors Data, and DBAPPSecurity to co-create outward-facing corporate university solutions for industrial talent development.

If CoolCollege were to have one defining label, it would be "fast." Customer surveys show that the top reason clients refer new customers is CoolCollege's responsive service and agile product updates. One client noted they began working with CoolCollege in 2018 when their company had just over 800 employees with relatively simple training operations needs. As their business rapidly expanded to nearly 10,000 staff, CoolCollege's product continued to meet their evolving training and talent development requirements. What struck them was that every inquiry to their CoolCollege account manager yielded concrete solutions and rollout timelines — reinforcing their commitment to growing alongside CoolCollege.

Efficiency and speed permeate CoolCollege's history: building a professional, industry-experienced regional marketing and service team covering 10+ cities with nearly 200 people under systematized management took just nine months; developing user-facing page component customization took 22 days; creating a DingTalk portal platform requires only one day...

Supported by rapid service response, product iteration, and organizational growth, CoolCollege has achieved steady performance gains. The company formally established its regional marketing and service team in 2020, expanding to hundreds of industry-leading enterprise clients within a year. Many industry veterans have remarked that CoolCollege traversed in four years what took other companies ten or twenty years.

The enterprise training market, valued in the hundreds of billions, has entered deep waters. CoolCollege has established differentiated customer service systems across product capability, marketing strength, and service quality. In terms of vertical specialization, it has built moat-level products for property management, retail chains, and insurance — with a paid client count in these three sectors that far outpaces competitors. On the market side, the company has established reference clients across Southeast Asia, Europe, and Australia, laying groundwork for scaled international expansion. Going forward, CoolCollege will continue exploring AI, gamification, and the metaverse while advancing in talent management and talent big data, driving continuous innovation through business development, ecosystem partnerships, and capital operations — aspiring to become a trillion-RMB industry-leading star.

Yiwen Hao of Source Code Capital commented: "China's enterprise training market is a 300-billion-RMB opportunity, and enterprise training SaaS represents the optimal entry point. The CoolCollege team is professional, open-minded, and ambitiously visionary. Having previously partnered with DingTalk for rapid growth, they have now quickly achieved business breakthroughs through their own systems. I believe the CoolCollege team will continue creating new milestones, and I look forward to this dark horse forging an even brighter future."

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