Happy Kids Education Completes Series D Financing Led by Centurium Capital2018-12-05
Beijing, December 5, 2019 – Happy Kids Education (Zhang Tong Jia Yuan) announced today that it has received Series D funding of US$100 million led by Centurium Capital. The capital raised will be used to enhance the online platform, improve efficiency of its partners network and create a new eco-system for pre-school education in China.
With unique patent technology, powerful offline service system and continued R&D investment, Happy Kids has achieved strong growth in market share and number of monthly active users. Happy Kids has become a leading player in parents-kindergarten education sector within four years since its inception in 2014. According to the weekly ranking in November 2018 by Quest Mobile, Happy Kids has 8.95 million parents and 690,000 teachers were active using its app, accounting for 65% and 70% of the total number of parents and teachers respectively who use the similar kind of apps.
Renqian Ye, founder of Happy Kids, commented that the strategic funding will help the company further strengthen its market position. He said, “we are going to build a more open platform and an improved environment for higher efficiency.”
Happy Kids will focus on families with 2-6 year-old children to effectively integrate online and offline resources and build more diversified product lines which center around school management, parents-kindergarten interaction, kindergarten resources. The company will introduce quality content providers on its online platform to meet the needs of parents, kindergartens and teachers.
Gary Liu, Executive Director of Centurium Capital, commented, “Happy Kids has gained profound insight into online kindergarten education market, which we believe has a huge potential for growth and expansion.”
So far, Happy Kids has reached strategic partnership with Hikvision, Ant Financial, Bliss Cake, China Children and Teenagers’ Fund (CCTF), and Ximalaya, and built education contents partnership with specialized education institutions like Donut (donut.koolearn.cn), All About BB- (sevenkids.cn) and Kai Shu (Kaishustory.com). The company has received eight rounds of funding from investors including New Oriental, Yuxin Capital, Zhihe Capital, China Equity Group, Shoutai Jinxin Fund and Centurium Capital.