Online 1-to-1 English Learning Platform 'DadaABC' Wins USD 100 Mln Series C
iHeima, 1/08/18
Shanghai-based Zhuozan Information Technology, operator of online children's education platform DaDaABC, recently announced that it completed USD 100 mln in Series C funding from Tiger Global Management and K-12 after-school tutoring services provider TAL Education Group (NYSE: TAL) in December 2017.
Zhi Hui, founder and CEO of Zhuozan Information Technology, said that following the funding round the company will increase investment in educational products and technology development.
DaDaABC offers one-on-one online English language learning services for students between 4 and 16 years old. It is currently China's only major platform offering one-on-one teaching services with a fixed instructor for each student. In H1 2017 the company began to focus on education research and content products, including expanding product lines to offer TOEFL and IELTS spoken language courses and French and Spanish classes for students between 12 and 18 years old. The company also established partnerships with international English language education publishers to introduce original editions of overseas teaching materials and engaged in "secondary research" to develop educational content suitable for local Chinese markets.
Zhi Hui said that DaDaABC is the first online English-learning strategic partner of UK-based education firm Pearson Education, and that the parties will launch a joint program in March 2018 to offer after-school courses for public school students.
Editor's Note: For more information on this topic, please see Online English Learning Platform 'DadaABC' Raises RMB 9-digit Series B+, MD 12/22/16 issue, "Online English Learning Platform 'DadaABC' Completes RMB 9-digit Series B," MD 9/21/16 issue.
Keywords: M&A VC Internet funding Series C Tiger Global TAL Education language learning DaDaABC Zhi Hui Zhuozan TAL online education
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