Beijing-based edtech company Yuanfudao has bagged US$ 300M in a funding round held in December 2020, from Yunfeng Capital.
The latest round brings the company’s total funding to US$4.1 billion.
Yuanfudao, founded in 2012 by Shuai Ke, Xin Li and Yong Li, is an online education company that caters to primary and secondary school students in China. It offers a variety of remote learning products such as live teaching platform Yuanfudao, Zebra AI Class, online question catalog Yuantiku, question searching app Xiaoyuan Souti, and arithmetic problems app Xiaoyuan Kousuan. Its unique online interface and a large group of experienced teachers enable students to access live online teaching at home, helping hundreds of thousands of them across the nation. It has education and research centers in more than 10 Chinese cities such as Wuhan, Xi’an, Zhengzhou, and Nanjing and more than 30,000 employees.
According to a 36Kr report, in 2020 the company generated total revenues of US$1.53 billion, becoming the highest-earning performer in the competitive online education sector. Yuanfudao also claims that around 4 million students are using its modest-priced courses.
The company had secured US$1 billion in a Series G funding round held in March 2020, led by Hillhouse Capital. In October 2020, it declared the closing of a further US$2.2 billion from Series G1 and G2 rounds.
The Series G1 funding round was led by Tencent, and also saw contributions from Hillhouse Capital, Boyu Capital, and IDG Capital. The Series G2 funding round was led by DST Global, along with participation from CITIC Private Equity Management, Singapore’s GIC, Temasek, Trustbridge Partners, DCP Investments, Ocean Link, Greenwoods, and Danhe Capital.
Post these funding rounds, Yuanfudao’s valuation rose to a staggering US$15.5 billion and is now known as the world’s most valuable education technology unicorn.
About Yunfeng Capital
YunFeng Capital is a private equity firm headquartered in Shanghai, China. It was founded in 2010 by Jack Ma and David Yu. It generally focuses on early and growth-stage investments in the internet technology, artificial intelligence, technology, healthcare, media and entertainment, financial services, logistics and consumption sectors. Apart from capital, Yunfeng Capital offers its portfolio companies consultation and advisory services.
The firm has to date invested in Duobaoyu Insurance, Brii Bioscience, Data Enlighten, Chengjia Apartment, NetEase Cloud Music, Knowbox, Trusfort, WuXi NextCode, Yunxuetang, Zmeng Network Technology, Xiaozhu.com, VIPKID, ThinkForce, and CStone Pharmaceuticals.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Story
[…] Next Story […]