Enterprise digitization and technological innovation will be the core driving force of China’s economic growth in the future.
Exclusively learned that the IT training brand “51CTO” has recently completed a USD 20 million Series C financing of Gaocheng Capital.
51CTO is a professional IT online education platform that provides IT education services for engineers in various fields such as development, operation and maintenance, artificial intelligence, big data, and blockchain. As of the end of 2019, the 51CTO platform has accumulated 10,000 original courses with a total of 6 million students.
From an industry perspective, the IT education industry will have a long-term increase. It is no longer necessary to mention the driving force of occupational anxiety into paid learning, and the trend of digital transformation across the industry is also obvious. In addition to these two points, the more important trend is that IT training is no longer just a requirement of “industry people”, and a large number of people in related industries or other industries are also constantly flowing. Understand the needs of the IT industry. According to Xiong Ping, the founder of 51 CTO, its users currently include people from various industries and positions, including the mayor, district head, and president of fund companies.
From a development perspective, under the premise that we believe that “intelligence must be the future trend”, there will be more and more people in other industries to understand IT and learn some “know how “Content.
From the perspective of the 51 CTO, currently the 51 CTO’s two business lines, B and C, are in parallel. Although the C-side revenue share is currently slightly better, the B-side will be a more important increase for Xiong Ping in the future.
The reason why the B-side increase is significant is because Technical capabilities are becoming one of the core competencies of enterprises. Most companies are more willing to increase the training in the IT department. Allocate a portion of the training budget; for companies that are undergoing digital transformation, a targeted training program is even more important.
On the B side, 51 CTO has two types of service forms. The first is a complete curriculum system and lesson packages. Enterprises can distribute a learning account after purchase. The unit price is basically about 100,000 yuan. The customers they serve include 21Vianet, China Merchants Bank, State Grid, etc .; Second, it is a semi-custom service that provides a full range of services such as content, evaluation, counseling, and SaaS; , China Unicom, Tencent and other enterprises.
In terms of product advantages, full content and fast updates are 51CTOThe core highlights. At present, the 10,000 courses of 51 CTO basically cover the promotion needs of different groups in various sub-sectors, and 40% of them are produced in 2019. Because the curriculum of vocational education is different from the long-term K12, and the market demand has been in a dynamic state for a long time, 51CTO pays more attention to the long-term communication with 3,000 co-teachers to capture the market trend.
About this round of financing, Hong Jing, founding partner of Gaocheng Capital, said: “The digitization and technological innovation of enterprises are the core driving force of China’s economic growth in the future, and the cultivation of technical personnel system is the key to the digital transformation and innovation of enterprises. Cheng Capital recognizes the 51CTO’s deep accumulation in the technical community and the layout of online technical education and training. “