According to iyiou.com, VIP Peilian Has Acquired Series C Financing of USD 150 Million on November 11. So far, this series of funding is the biggest investment in online music education industry.
According to iyiou.com, VIP Peilian (VIP陪练) has acquired its Series C financing of USD 150 million on November 11. Tiger Global Mauritius Fund (老虎亚洲基金) led this series of funding, Tecent (腾讯), Orchid China (兰馨亚洲), GSR Ventures (金沙江创投), Bluerun Ventures (蓝驰创投), Long Capital (长石资本), BHG Long Hills (华联长山兴) followed the investment. So far, this series of funding is the biggest investment in online music education industry.
January 2018, VIP Peilian just completed its Series B financing of USD 29 million. The Series B financing was led by Tecent and Orchid China, and it was the biggest investment in online music education industry at that time. The continuos investments shows the capital's confidence in VIP Peilian and online education industry.
VIP Peilian claimed that the latest funding will be mainly invested in product development, educating resources training, AI and big data. Hence, VIP Peilian have the chance to expand its brand influence and take over more market share in online music education market.
Founded in 2014, VIP Peilian is one of the earliest service companies focusing on the "Internet + Music Education" mode. In traditional music education, kids do not like practicing by themselves. However, young parents put their efforts on the careers, and they do not have time accompanying with the kids during the practicing time. VIP Peilian recognizes the parents' complaint and starts their mission on online education.
VIP Peilian offers 1 to 1 online music practice courses among 4 instruments: piano, violin, accordion and Chinese zither. Piano practice course has the largest demand, reaches around 80% among all courses. According to VIP Peilian's official website, with more than 10,000 online teachers, VIP Peilian has acquired more than 500,000 students located in 33 countries. Currently, VIP Peilian's monthly revenue already reaches USD 11 million.
- Author: TANG Shiyu. Write to TANG Shiyu at ShiYu@EqualOcean.com