Codemao, a Shenzhen-based online education platform that offers computer programming classes to kids, announces today its Series C+ round of financing with 250 million yuan. This round is led by CMB International, with BoHaiZhongSheng, original shareholders Guangdong Technology Financial Group and Sharewin Investment also participating.
Prior to this round, the company has raised 400 million in its C round last year, as of now, Codemao eyes a total amount of financing of 1.25 billion yuan.
On the celebration of the company’s fifth anniversary this March, Li Tianchi, the founder of Codemao, told JMDedu that the company has accumulated 31.47 million users and has penetrated into 12,985 public schools. Since March 2019, Codemao has achieved a positive operating cash flow.
Meanwhile, Li reviewed the company’s three phases of growing. After developing coding tools and building up a programming system for teaching and learning, Codemao now is deep diving into commercial operation based on the Octopus teaching system.
Moreover, it is reported that the company eyes a monthly revenue of 127 million last month, an increase of nearly three times year-on-year.
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