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- Hetao101
Hetao101 Funding, Investors & Competitors
Hetao101 has raised $271M across 5 funding rounds, most recently a $200M Series C in March 2021.
Last Hetao101 funding round
$200M
Series C · Mar 2021
Cumulative funding Hetao101 raised
$271M
across 5 funding rounds
Key investors in Hetao101
Source Code Capital
XVC
Hillhouse Investment
KKR
Vision Plus Capital
Hike Capital
Huasheng Capital
CICC Jiacheng Investment Management
Hetao101 Overview
About Hetao101
Hetao101 is a Haidian, Beijing-based education company founded in 2017 that delivers programming courses for children aged 6-18. The curriculum follows Computer Science Teachers Association standards, covering Python, Scratch, and robotics with hands-on projects. Classes prepare students for informatics olympiads and university admissions in computer science. Hetao101 operates learning centers and online platforms across Beijing.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services
Hetao101 Funding History
Hetao101 has raised a total of $271M across 5 funding rounds.
Hetao101's first fundraising round was a $2M seed round in March 2018. The most recent completed round was a $200M Series C in March 2021.
Hetao101 funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Mar 2021 | Series C | Hillhouse Investment (lead); KKR (lead); Vision Plus Capital (lead); Source Code Capital | $200M | Hetao101 (also referred to as Pipa Coding) is a China-based edtech company providing computer programming education. On March 25, 2021, it raised $200M in a Series C round led by Hillhouse Capital Management (Hillhouse Investment), KKR, and Vision Plus Capital, with participation from Huasheng Capital and Source Code Capital. The company had prior rounds including Series B and earlier Series A stages, with Hillhouse involved in previous investments. |
| Oct 2019 | Series B | Hillhouse Investment (lead); Huasheng Capital (lead); XVC; Zhongyuan Capital; Source Code Capital | $50M | Hetao101 is an online platform providing programming education for children. It raised $50 million in a Series B funding round on October 23, 2019, co-led by Hillhouse Capital and Huasheng Capital (China Renaissance-linked), with participation from Source Code Capital, XVC, and Zhongyuan Capital. Hetao101 operated in China's edtech sector focused on kids' coding amid rising VC activity in 2019. |
| Feb 2019 | Series A | Hillhouse Investment (lead); XVC; Source Code Capital | $18M | Hetao101 (also known as Walnut Programming or Pipa Coding) is an online programming education platform for children, founded in July 2017. The company closed a Series A-II funding round on February 18, 2019, led by Hillhouse Investment, with participation from Source Code Capital and XVC. Hetao101 competes with platforms like Codemao, which also received backing from Hillhouse and raised CNY 600 million around that period. |
| Jul 2018 | Series A | Source Code Capital (lead); XVC | $2M | - |
| Mar 2018 | Seed | XVC (lead); CICC Jiacheng Investment Management; Hike Capital | $2M | - |
Who has invested in Hetao101?
9 investors have backed Hetao101 across its funding rounds, including Source Code Capital, XVC, Hillhouse Investment, KKR, Vision Plus Capital and Hike Capital.
Lead investors include Hillhouse Investment, KKR, Vision Plus Capital, Huasheng Capital, Source Code Capital and 1 other investor.
Hetao101 Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Mar 2018 | ||
| 4 | Lead | Jul 2018 | ||
| 3 | Lead | Feb 2019 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Lead | Oct 2019 | ||
| 1 | Lead | Mar 2021 | ||
| 1 | Participant | Mar 2018 | ||
This data is available for Pro users. Sign up to see all 9 Hetao101 investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialHetao101 Competitors
Hetao101 competitors include listed companies like Stride, East Buy and Youdao, and private ones like GoStudent, Age of Learning and Outschool.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $107M | $16M | $3.4B | - | ||
| Publicly listed | $2.5B | $580M | $3.4B | 1.2x | ||
| Publicly listed | $850M | $98M | $3.4B | 2.8x | ||
| Private | $100M | - | $3B | - | ||
| Private | $100M | - | $3B | 30.0x | ||
| Publicly listed | $881M | $29M | $1.7B | 2.0x |
Hetao101 Public Comps
Hetao101 is still privately-owned, but its public comps include Pearson, New Oriental Education, Duolingo, TAL Education, Laureate Education, Graham Holdings, Covista, Grand Canyon Education, Fibra Educa and Stride.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $4.8B | $1.4B | 2.4x | 2.3x | 8.1x | 10.4x | |||
| $4.9B | $563M | 1.0x | 0.8x | 8.8x | 5.6x | |||
| $1B | $152M | 5.4x | 4.9x | 37.3x | 17.9x | |||
| $3B | $700M | 1.3x | 1.2x | 5.7x | 6.9x | |||
| $1.7B | $515M | 3.2x | 3.0x | 10.7x | 9.6x | |||
| $4.9B | $682M | 1.0x | 1.0x | 7.3x | - | |||
| $2B | $462M | 2.5x | 2.4x | 10.4x | 9.1x | |||
| $1.1B | $306M | 3.4x | 3.3x | 12.4x | 10.0x | |||
This data is available for Pro users. Sign up to see all Hetao101 competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Hetao101
| When was Hetao101 founded? | Hetao101 was founded in 2017. |
| Where is Hetao101 headquartered? | Hetao101 is headquartered in Beijing, China. |
| Is Hetao101 publicly listed? | No, Hetao101 is a private, VC-backed company. |
| How much funding has Hetao101 raised? | Hetao101 has raised $271M across 5 funding rounds. |
| What was Hetao101's last funding round? | Hetao101's last funding round was a $200M Series C in March 2021, led by Hillhouse Investment, KKR and Vision Plus Capital. |
| Who are Hetao101's investors? | Hetao101's investors include XVC, Source Code Capital, Hillhouse Investment, KKR, Huasheng Capital, Vision Plus Capital, CICC Jiacheng Investment Management, Zhongyuan Capital and Hike Capital. |
| Which companies are comparable to Hetao101? | Companies comparable to Hetao101 include GoStudent, Stride, East Buy, Age of Learning, Outschool and Youdao. |
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