Xigua City announces today its series B+ round of financing invested by Tencent, with the amount undisclosed. According to Xiao En, the founder of Xigua City, the fund will be used for further development of teaching and research. Prior to this deal, the company has raised investment from famous capital ventures like EDU Fund, Sequoia Capital, MatrixPartners China, Saif Partners, and China Oceanwide.
Founded in January 2017, Xigua City focuses on providing online coding education for students from 6 to 12-year-old. As of now, the company has attracted more than 1 million users from 64 countries and regions, covering 484 cities.
The company has launched the LEAP Course System which is divided into four different stages. At the L stage, the courses are basic in programming education represented by Scratch. Courses at the E stage are more advanced and the A stage for Python-based practical courses. At last, the P stage will provide students with project courses including the content of mathematics, music, and other disciplines. To assess the learning effect of the students, Xigua City also developed a four-step teaching model of “Learning, Practice, Test, and Competition”.
As leading companies in the kid programming sector of China like Xiaomawang, Codemao, and Hetao101 started speaking loudly to vie for more market shares, the Matthew effect of the industry will become increasingly obvious. In the future, the competition between top institutions for customer acquisition and retention will become more intense.