NowCoder, a Beijing-based campus recruitment platform, has recently raised $50 million as a part of its Series B round led by Sequoia Capital China and Tiger Global Management. The funding round was also joined by 5Y Capital, and Pegasus Capital, and Shunwei Capital, a VC backed by consumer electronics brand Xiaomi’s founder Lei Jun.
With this investment, the company plans to expand its user base and add new corporate clients to its more than 1,500 companies network. The firm also serves companies across 30+ industries, including fintech, internet, smart manufacturing, semiconductor, automobile, and gaming.
Founded in 2014 by Ye Xiangyu, NowCoder, also known as Niuke, is an educational technology company driven by technology and innovation. The platform insists on serving technology with cutting-edge technology, using artificial intelligence and big data to improve learning efficiency, focusing on exploring innovative models of online education, and is committed to providing technical job seekers with capacity-enhancing solutions while providing enterprise-level users with more efficient recruitment Solutions, and build a bridge for the two, and build a delicate ecosystem from learning to career.
The startup, which Beijing Nowcoder Technology operates, started as an online job-searching portal and interview question bank targeting software programmers. In 2016, to leverage its 250,000 registered user base, it pivoted to providing campus recruitment solutions for internet companies.
Commenting on the fundraising, Founder & CEO of NowCoder, Ye Xiangyu, said:
The firm will strategically focus on the “depth” of its offerings in sourcing high-tech professionals before its expansion into tapping talent in other areas. NowCoder is a platform combining community, job-hunting tools and content. The interplay of what we are trying to offer, namely practical tools, emotional support and accumulative content, has brought value to our users in their job-seeking efforts. This combination also helps us identify target users and ensure the loyalty of our corporate clients.
NowCoder claims to have partnered with some of China’s biggest technology companies, including Alibaba Group, Tencent, TikTok-owner Byte Dance, Huawei, and Xiaomi, among existing clients. It also serves Tesla and Intel Corp, as well as financial groups like China Merchants Bank and China Construction Bank, to name a few.
In 2018, NowCoder had raised over $1.4 million in its Series A funding round led by 58. com. China Distance Education Holdings also participated in this round.