Naixue Education, an online education platform that offers IT training for practitioners within the sector, recently raised RMB 50 million (USD 7.8 million) in a Series A1 round led by Plum Ventures. Other investors include Taiya Investment, 58 Industry Fund, and Zhongying Ventures. Yuze Capital served as the company’s exclusive financial advisor.
This follows an investment raised by Naixue in July. The company will use the funds to develop its enterprise-facing business, shore up its AI architecture, and add more offerings to its course selection.
Naixue Education distinguishes itself from conventional IT training schools by focusing on cultivating high-level IT professionals, who will serve the needs of many enterprises undergoing digital transformation.
One of Naixue Education’s partners is Dragonpass, a platform that provides access to airport lounges. Naixue offers SaaS build-out, corporate training, and talent cultivation for the company.
Since March 2020, Naixue has served more than 300,000 course subscribers, with a live course completion rate at over 90%. According to Naixue CEO Sun Xuan, the company’s monthly revenue from this line of business exceeds RMB 10 million, or USD 1.6 million. At the moment, Naixue Education is developing a referral system to connect technical talent with enterprises.
Qin Wei, the founding partner of Taiya Investment, said that he believes Naixue Education, as a startup that has been in operation for just one year, has already garnered a good reputation in the middle to high-end market.
KrASIA Connection features translated and adapted content published by 36Kr. This article was originally written by Chen Xining for 36Kr. It was translated and adapted by Mengyuan Ge.