English Learning Site Alo7 Lands USD 8-Digit Series C Funding

Sina Tech, 6/05/13

Shanghai-based online education company Alo7 Network Technology has announced the completion of USD 8-digit third round of funding led by Qualcomm. UMC Capital and Vickers Venture also participated in the deal.

Alo7 currently has two products under the Alo7 brand: "Alo7 English Digital Textbooks" and the "Alo7 English Learning Website." There are currently several hundred language training institutions, public elementary schools, and kindergartens using Alo7 digital language-learning materials. The company boasts more than 10 mln registered online users. Alo7 business-side clientele include education companies New Oriental (NYSE: EDU), Xueda Education, and Bond Education.

Alo7 was established in 2010 as a children's English learning brand by parent company Saybot Information Technology (Shanghai), an international provider of English learning products. Saybot was founded in July 2004 in Boston.

Keywords: Alo7 VC UMC Capital Vickers Venture Internet funding online education Saybot Qualcomm third-round language learning

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