China-based vocational education services provider Fenbi Education(粉笔教育) recently announced its $390 million Series A round of financing. This round was led by IDG Capital and Trustbridge Partners, with the participation from CPE, DCP, Kunyu Runyuan Assets, Huaxing Growth Capital, Hony Capital, and Shanghai Hongrui Investment.
According to Zhang Xiaolong, the CEO of Fenbi, the fresh capital will continue to be used to expand the scale of teacher recruitment and training, increase investment in teaching and research, as well as innovate products and technologies.
Founded in 2015, the company focuses on test preparation services including civil service examinations, public institution recruitment examinations, teacher qualification certificates and recruitment examinations, postgraduate entrance examinations. As of January 2021, Fenbi has accumulated more than 48 million loyal users and 7.03 million paying users.
According to reports, the total revenue of Fenbi in 2020 exceeded 4 billion yuan. Starting in 2020, the company has invested more in offline channels and vying for markets outside metro cities. To date, Fenbi has 396 learning centers across the country, with over 14,000 employees, of which the teacher team accounts for more than 75%.
JMDedu is a leading B2B EdTech Media in China that informs and connects business professionals through our reports, events, and information services. Our mission is to drive the advancement of education. Our network spans the education industry in China as well as globally, including entrepreneurs, investors, startups, educators, business decision-makers, and policy decision-makers.
