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Coding education platform Codemao will step up drive to attract more users

By Ma Si | chinadaily.com.cn | Updated: 2020-11-26 09:51

Chen Wanqing, chief operating officer of Codemao, delivers a speech. [Photo provided to chinadaily.com.cn]

Chinese online coding education platform Codemao will step up push to acquire more users and to go global, after the company raised 1.3 billion yuan ($198 million) in its latest funding.

Chen Wanqing, chief operating officer of Codemao, said the education industry is still in an early stage of development, and strategies need to be simple, clear and powerful and not complicated.

According to Chen, Codemao currently focuses on three aspects, namely acquiring more users, developing more products and exploring overseas markets.

Established in 2015, Codemao initially concentrated on developing programming tools for children aged between 4 and 16, and providing programming education solutions to schools. The company also offers online programming courses.

Chen said Codemao has now established code training partnership with more than 17,000 public schools.

Earlier this month, Codemao announced that it has finished its series D funding round led by a fund affiliated to Baring Private Equity Asia. Other investors include Citic Securities, Hillhouse Capital, BOC International, Gold Stone Investment and Sino-Ocean Capital.

Codemao's last financing round took place in April, when it raised 250 million yuan from a group of investors led by CMB International.

Chen said so far, Codemao has been able to generate average monthly revenue of more than 200 million yuan.

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