According to the firm's CEO, the funds will continue to be used to build the industry's top teacher team and expand the scale of teacher recruitment and training.
Online vocational education company Fenbi Education (粉笔教育) announced the USD 390 million round on February 7. The round was led by IDG Capital and Trustbridge Partners, followed by CPE, DCP, Kunyu Runyuan Zichan, Huasheng Capital, Hony Capital and China Venture Capital HRV.
The six-year-old company's businesses include civil service examination, public institution recruitment examination, teacher recruitment examination, postgraduate entrance examination, accounting, law examination, construction, open class, CET-4 and CET-6 and many other online education products.
As of January 2021, Fenbi Education has more than 48 million users, 7.03 million paying users, 396 learning centers in 31 provinces and more than 14000 employees, of which the teaching team accounts for more than 75%.