Online English Test Tutoring Platform Kaochong Wins USD 55 Mln Series D
36Kr.com, 9/05/18
Beijing-based Xuanke Technology, operator of online and mobile live English test prep course search platform Kaochong.com, recently announced completion of USD 55 mln in Series D funding led by Hillhouse Capital Management with participation by Chinese internet conglomerate Tencent (0700.HK) and Matrix Partners China.
Kaochong.com can be understood as an online, super-large class platform. The platform has sold more than 4,000 course subscriptions in a single 8-hour period and has reached over RMB 100 mln annual operating revenues for the past two years. The platform's flagship products are test prep courses for CET-4 and CET-6 English language proficiency exams, and Kaochong.com has achieved a dominant position within this market. Other business areas include graduate student exam, study abroad, and public service examination online courses, and the platform's courses in several of these domains have greater than 50% market share. According to data from Kaochong.com, the platform currently leads its industry in terms of total fee-paying Chinese university student users.
Editor's Note: For more information on this topic, please see Tencent Leads Series C Funding of English Test Tutoring Platform Kaochong.com, MD 03/05/18 issue.
Keywords: VC M&A online education mobile education wireless Internet funding Tencent Series D Matrix Partners 0700.HK Hillhouse Capital Kaochong Xuanke Technology
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