The leading online education company, Yuanfudao just completed its latest series of financing, secured USD 300 million.
Dec 25, 2018 /EqualOcean/ - Yuanfudao (猿辅导), the leading online education company, annouced it completed its latest series financing of USD 300 million today. This round of financing was led by Tencent (腾讯), followed by MatrixPartners China (经纬中国), Warburg Pincus (华平投资), IDG Capital. Yuanfudao was valued at USD 3 billion after this round financing.
Yuanfudao claims that this round financing will be used for the intelligent studying and online education technology development: the students can have better learning and viewing experience, and Yuanfudao will continue to improve its online education quality.
Founded in 2012, Yunfudao have obtained 7 rounds of funding for more than USD 544 million. Currently, With more than 200 million users, Yuanfudao is one of the most popular K12 online education companies in China.
Yuanfudao is developing fast by upgrading its products. In the early stage, Yuanfudao released its online answer book product Xiaoyuansouti (小猿搜题). By taking pictures of the questions, students can easily get the answers through the software. The software is so popular among students, which brings the company a good profit.
Whilst in the development period, as the DAUs (Daily Active Users) number rises, the company added the key issue solving function on Xiaoyuansouti and provides online educating product with the same name Yuanfudao. More and more Students are learning online focusing on essential learning material on Xiaoyuansouti. Many students are recommended to use Yuanfudao to receive systematic online education with excellent teaching resources.
Yuanfudao upgraded its products from early stage online problem searching engine, to online content service provider, and now Yuanfudao builds a industry chain with series of K12 online educating products. With fast and steady development, Yuanfudao are believed to become top education company in the fast-developing K12 education market.
- Author: TANG Shiyu. Write to TANG Shiyu at ShiYu@EqualOcean.com