According to Tencent News, China’s leading online piano training platform Kuaipeilian(快陪练) has completed a new round of financing, verified by the company recently. Lu Wenyong, the founder of Kuaipeilian, announced that the company has achieved sustainable profitability since February with positive cash flow, meaning of the first company in the music education track to make profits.
Prior to the latest round, Kuaipeilian raised 50 million yuan from Gaorong Capital and IDG Capital in its angel round in the year of 2018, which has refreshed the record of financing amount in the competence-based education sector. And in 2019, the company completed its Pre-A round with 10 million yuan led by China Creation Ventures(CCV), with original shareholders Gaorong and IDG also participating.
Founded in 2016, the company focuses on 1-on-1 online piano training for children from 4 to 16-year-old. As of now, Kuaipeilian has built up a coaching team with more than 10,000 teachers, and has served more than 400,000 users coming from over 40 countries across the world.