Take a fresh look at your lifestyle.

Yuanfudao Raises US$2.2 Billion in New Financing, Valuing the Company at US$15.5 Billion, Becoming the Most Valued Ed-Tech Company Worldwide

Yuanfudao, China’s leading online education platform today announced the closing of its US$2.2 billion Series G1 and G2 financing. The G1 financing round was led by Tencent, with participation from Hillhouse Capital, Boyu Capital and IDG Capital. The G2 financing round was led by DST Global, with participation from CITICPE, GIC, Temasek, TBP, DCP, Ocean Link, Greenwoods and Danhe Capital.

 HR Technology News:BenchPrep Announces Kristen Shaheen As General Counsel

Yuanfudao’s latest financing rounds increased the Company’s valuation to US$15.5 billion, making it the most valuable technology-driven education unicorns in the world. The new funding will allow Yuanfudao to further capitalize on its educational technology innovation, accelerate new curriculum product development and expand its online education service system.

Founded in 2012, Yuanfudao has been committed to enhancing and stimulating the learning experience and interest of Chinese students by providing them with highly accessible, quality education resources through the use of technology. Yuanfudao has offered a list of online learning products, including live tutoring platform Yuanfudao, Zebra AI Class, online question bank Yuantiku, question searching app Xiaoyuan Souti and arithmetic problem checking app Xiaoyuan Kousuan, etc.

HR Technology News: Bind Raises $105M In Series B Funding

Yuanfudao is the leading brand for China’s primary and secondary school online courses, while Zebra AI Class is the largest online course platform for preschool education in China. As of today, these two major online course platforms currently approximately 3.7 million students using their regular-priced courses, making Yuanfudao the largest online education company in China by number of students.

Headquartered in Beijing, Yuanfudao has established a number of teaching & research centers and branches across China, including in Wuhan, Xi’an, Zhengzhou, Nanjing, Chengdu, Jinan, Changsha, Tianjin, Chongqing, Shenyang, Changchun and Hefei with more than 30,000 employees. In March 2020, Yuanfudao announced that it would create 10,000 jobs across China and 5,000 jobs in Wuhan to support COVID-19 recovery efforts, as a part of the Company’s commitment to corporate social responsibility.

In July, the Beijing Winter Olympics Organizing Committee announced Yuanfudao as an official sponsor of the Beijing 2022 Winter Olympics. This will be the first time that an online education company will be sponsoring the Olympics.

Write in to psen@itechseries.com to learn more about our exclusive editorial packages and programs.