Codemao, an online IT education provider that counts media group Southern Publishing and Media and mobile internet company Cheetah Mobile as investors, raised RMB1.3bn ($198m) on Friday, DealStreetAsia reported.
An affiliate of Baring Private Equity Asia led the series D round, which included Bank of China’s BOC International Holding and Bohai Zhongsheng subsidiaries, China Merchants Bank’s CMB International vehicle and Citic Group funds Citic Securities and Goldstone Investment.
Wens Investment, Sino-Ocean Capital, Greater Bay Area Homeland Investments, Youshan Capital, Hillhouse Capital and Guangdong Technology Financial Group filled out the round, the largest ever by a Chinese coding education company, according to Codemao.
Codemao offers online coding courses to students four to 16 years old in addition to programming technology for customers such as schools, universities and other education and training providers.
CMB International led a $35.3m series C-plus round for the company in April this year, investing with Guangdong Technology Financial Group, Sharewin Investment and Bohai Zhongsheng to take its total funding to approximately $177m.
Cheetah Mobile and Southern Publishing and Media had participated in Codemao’s $56.6m series C round five months earlier.
The round was led by Russia-China Investment Fund and also featured Guangdong Technology Financial Group, Hillhouse Capital, SAIF Partners, Everbright New Economy Fund, Crystal Stream Capital and Green Pine Capital Partners.
Cheetah Mobile, CMB International Capital, Green Pine Capital, Hillhouse Capital and Crystal Stream Capital were all among the company’s earlier investors, as were Xinyi Capital and Qinghan Fund.
