Online Evaluation Platform LeetCode Won Nearly $10 Million in Round A Financing From Lightspeed China Partners
LeetCode, a social platform for preparing technical interviews for companies in the IT industry, announced on Wednesday that it had completed the A round of financing of nearly $10 million, which was exclusively invested by Lightspeed China Partners. This is the first time that LeetCode disclosed financing information after entering China in 2018 and operating independently.
According to LeetCode, the financing funds will be mainly used for upgrading the core products of the platform and the construction of a commercial ecosystem. The company will continue to exert its strength in the two directions of “recruitment platform construction” and “industry standard building”, and gradually explore other markets outside China and the United States.
LeetCode was established in Silicon Valley in 2011 and is one of the earliest online employee evaluation platforms in the world. Since the birth of the platform, its influence in Silicon Valley and even around the world has been expanding. LeetCode has been widely used in the technical interviews of major Internet and technology enterprises, and has become the common standard for the selection of technical talent in Silicon Valley. By 2018, the demand of users from China increased substantially and led to the company setting up a site to operate independently for the Chinese market.
In 2018, Hercy, founder of LeetCode, officially introduced the platform to China. After more than three years of development, it has served over 4 million Chinese programmers and users, and the annual code submission times of the platform have exceeded 100 million. According to some statistics, the penetration rate of LeetCode community users among programmers in China is over 50% and a large number of colleges and universities use LeetCode for auxiliary teaching.
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LeetCode is committed to the lifelong career development of technical professionals, and seeks to serve the improvement of programmers’ abilities while and helping to build a new infrastructure for technical talent in the future. Through its online evaluation technology, LeetCode can use automatic question judgment and build basic functional modules. In 2020, the company began to further expand its products with business customers, and in Q3 2021, LeetCode officially launched the enterprise version and interviewer version of its platform.