According to 36Kr, Huohua Siwei (火花思维，means thinking), an online children's thinking training platform for K-12 children, raises 30 million dollars in a new round from Kuaishou. The financing news has been confirmed by Huohua Siwei when JMDedu asked the company for verification this morning.
Founded in 2017, the company taps into the Math and Logic Education market with the teaching model of small-sized online class. With advantageous competition in the market, Huohua Siwei further expanded its business to the Chinese language courses in July 2019. According to the statistics disclosed, the renewal rate and full-class rate of Huohua Siwei highly reach to 75% and 96% respectively.
Prior to this round, in August 2019, Huohua Siwei has secured 85 million dollars in Round D. Besides, the company raised 15 million dollars, 20 million dollars and 40 million dollars in May 2018, June 2018 and March 2019 respectively. The amount of four rounds’ financing reached to 160 million dollars in total. Luojian, the founder of Huohua Siwei, announced that the revenue of this March broke through 150 million dollars which set the new monthly income record.
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