TutorGroup, a Chinese online education platform, closed a Series C equity financing of approximately $200m.
The investment, which valued TutorGroup at over $1 billion, was made by GIC, Singapore’s sovereign fund; the Russia-China Investment Fund (RCIF); Goldman Sachs; and Silverlink Capital.
The company will use the funds for the expansion of its services.
Led by Dr. Ming Yang, Founder, and Dr. Eric Yang, CEO and co-founder, and Jerry Huang, Chief Operating Officer, TutorGroup is an online education platform and a large English language learning institution serving students that range from global business professionals to young children.
Through its proprietary platform, the company currently offers online English language-learning courses to both adult professionals and K-12 students, in the greater China region via TutorABC and VIPABC, and TutorMing for Chinese language students internationally.
Founded in 2004, TutorGroup has educated students in 40 countries via more than 4,500 teachers, and has hosted more than 10 million classroom sessions.
Existing investors included a syndicate of renowned institutions, including Alibaba, Temasek, Qiming Venture Partners, SBI Holdings and CyberAgent Ventures.
FinSMEs
18/11/2015