VIPThink Funding, Investors & Competitors

VIPThink has raised $215M across 2 funding rounds, most recently a $200M Series C in November 2020.

Last VIPThink funding round

$200M

Series C · Nov 2020

Cumulative funding VIPThink raised

$215M

across 2 funding rounds

Key investors in VIPThink

VIPThink Overview

About VIPThink

VIPThink is a Beijing-based online education platform specializing in mathematics thinking training for children aged 3 to 9 through interactive multimedia games and PBL methods. The service incorporates cognitive psychology research, brain science principles, and American NCTM standards via its proprietary teaching system, including front-end toys for multiple intelligences development. VIPThink delivers courses accessible nationwide in China, previously operating as Happy Seeds.


Founded

2016

HQ

ChinaGuangzhou

Status

Privately held

Customer focus

B2C

Revenue model

Subscription

VIPThink Funding History

VIPThink has raised a total of $215M across 2 funding rounds.

VIPThink's first fundraising round was a $15M Series A in January 2019. The most recent completed round was a $200M Series C in November 2020.

VIPThink funding rounds

VIPThink funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2020Series CSoftBank Group (lead); Sinovation Ventures; Enlight Growth Partners; New Oriental Education; DCM Ventures$200MVIPThink is a Guangzhou-based Chinese edtech startup offering online math lessons to children. It raised $180 million in a Series C funding round led by SoftBank Vision Fund 2, with participation from Sinovation Ventures, Alpha Animation CEO Dongqing Cai’s family foundation, New Oriental Education, DCM, and Enlight Growth Partners. The company reported over 220 million yuan ($33.2 million) in monthly revenue at the time of the announcement. VIPThink aimed to onboard 10,000 teachers and serve one million students. Following the funding, it merged with Magic Ears, an online English learning platform for ages 4-12, to create a one-stop online learning platform for kids in China. Previously, VIPThink raised hundreds of millions of yuan in Series B in September 2019 led by New Oriental Education, and $1.5 million in Series A from DCM and Sinovation Ventures. The round positioned VIPThink alongside other Chinese edtech firms raising large sums, such as Yuanfudao ($2.2B Series G at $15.5B valuation), Zhangmen ($400M), Huohua Siwei ($150M), and Zuoyebang ($750M).
Jan 2019Series ADCM Ventures (lead); Sinovation Ventures$15MVIPThink is a Guangzhou-based Chinese edtech company founded in 2016, offering online math lessons focused on mathematical thinking, concentration, and learning habits for children aged 3-8. The company transitioned to online operations in August 2018 and markets courses via e-commerce, online communities, and sales representatives. VIPThink raised $1.5 million in its Series A round in early 2019 led by DCM Ventures with participation from Sinovation Ventures. In September 2019, it completed a Series B round of hundreds of millions of yuan (multiples of RMB 100 million, roughly over $14 million USD), led by New Oriental Education with investors including DCM Ventures, Sinovation Ventures, and Ximalaya. Revenue grew from RMB 300,000 in the first month online (July/August 2018) to RMB 28 million in May 2020. No valuation, revenue near the 2019 round, ARR, EBITDA, or multiples were stated for the specified round.

Who has invested in VIPThink?

5 investors have backed VIPThink across its funding rounds, including DCM Ventures, Sinovation Ventures, SoftBank Group, New Oriental Education and Enlight Growth Partners.

Lead investors include SoftBank Group and DCM Ventures.


VIPThink Investors

Investors in VIPThink by funding rounds participated
InvestorHQRoundsRoleFirst check
Sinovation VenturesChinaBeijing2ParticipantJan 2019
DCM VenturesUnited StatesSan Francisco, CA2LeadJan 2019
SoftBank GroupJapanTokyo1LeadNov 2020

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VIPThink Competitors

VIPThink competitors include listed companies like Pearson, New Oriental Education, Duolingo and TAL Education, and private ones like Yuanfudao and Guild.

Public and private companies comparable to VIPThink
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
YuanfudaoChinaBeijingPrivate$1.4B-$17B11.7x
PearsonUnited KingdomUnited KingdomPublicly listed$4.8B$1.4B$9.6B2.3x
New Oriental EducationChinaChinaPublicly listed$4.9B$563M$8.9B0.8x
DuolingoUnited StatesUnited StatesPublicly listed$1B$152M$6.9B4.9x
TAL EducationChinaChinaPublicly listed$3B$700M$6.5B1.2x
GuildUnited StatesDenver, COPrivate--$4.4B-

VIPThink Public Comps

VIPThink 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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Pearson$4.8B$1.4B2.4x2.3x8.1x10.4x
New Oriental Education$4.9B$563M1.0x0.8x8.8x5.6x
Duolingo$1B$152M5.4x4.9x37.3x17.9x
TAL Education$3B$700M1.3x1.2x5.7x6.9x
Laureate Education$1.7B$515M3.2x3.0x10.7x9.6x
Graham Holdings$4.9B$682M1.0x1.0x7.3x-
Covista$2B$462M2.5x2.4x10.4x9.1x
Grand Canyon Education$1.1B$306M3.4x3.3x12.4x10.0x

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Common questions about VIPThink

When was VIPThink founded?VIPThink was founded in 2016.
Where is VIPThink headquartered?VIPThink is headquartered in Guangzhou, China.
Is VIPThink publicly listed?No, VIPThink is a private, VC-backed company.
How much funding has VIPThink raised?VIPThink has raised $215M across 2 funding rounds.
What was VIPThink's last funding round?VIPThink's last funding round was a $200M Series C in November 2020, led by SoftBank Group.
Who are VIPThink's investors?VIPThink's investors include Sinovation Ventures, DCM Ventures, SoftBank Group, Enlight Growth Partners and New Oriental Education.
Which companies are comparable to VIPThink?Companies comparable to VIPThink include Yuanfudao, Pearson, New Oriental Education, Duolingo, TAL Education and Guild.

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