Zuoyebang Raises USD 1.6 Billion E+ Round

On December 28, Zuoyebang, one of China's online K12 education leaders, announced its E+ funding round. The EdTech unicorn, which owns the largest number of users in the Chinese online education industry, to date has raised a total of USD 3.4 billion. The firm's post E+ round valuation has jumped to a staggering USD 9.6 billion. 

The round is backed by renowned investors such as Alibaba, Tiger Global, Vision Fund, Sequoia China, FountainVest Partners, and several other parties.

Zuoyebang, established in 2015, mainly provides online study tools and online K-12 courses. Monthly active users on Zuoyebang app have reached 170 million, making it the only online education app that appears in the top 30 in app stores. According to the company, the number of students who paid for the 2020 autumn courses has reached 10 million, breaking the record high in the industry.