Mobile Education Platform Zuoyebang Wins USD 750 Mln Series E

Zuoyebang, 6/30/20

Chinese K-12 online education platform Zuoyebang has announced via its official WeChat account the completion of a USD 750 mln Series E round of financing, led by FountainVest Partners and Tiger Global, with participation from new and existing shareholders Qatar Investment Authority, Sequoia Capital China Fund, Softbank Vision Fund 1, Tiantu Capital, and Xianghe Capital. TH Capital continued to act as the exclusive financial advisor.

Zuoyebang has a variety of education products such as Zuoyebang (homework Q&A platform), Zuoyebang Livestream Classes, and Zuoyebang Kousuan (mathematics homework tutoring platform designed specifically for parents and teachers of elementary school students).

The total number of daily active users of Zuoyebang's products exceeds 50 mln, monthly active users exceeds 170 mln, and cumulative active users exceeds 800 mln. Zuoyebang's mobile app is the only education app that has made the Top 30 list in China's mobile app market.

Keywords: mobile education VC Tiantu Capital wireless online education Softbank Sequoia Capital Tiger Global Series E Zuoyebang Xianghe Capital Qatar Investment Authority funding TH Capital

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