Online Children's English Education Site 'Vipkid' Wins USD 20 Mln Series B
36Kr.com, 10/12/15
Beijing-based Dami Technology, operator of one-on-one English education website for children Vipkid, announced recently that it has completed USD 20 mln Series B funding led by Northern Light Venture Capital (NLVC), with participation by Chinese venture capital firms Matrix Partners China, Innovation Works, and Sequoia Capital.
Vipkid, established in 2013, offers its own self-developed educational system and is staffed entirely by instructors with North American elementary school teacher credentials. Students are mostly children between the ages of 5 and 12. Vipkid provides online remote training for its teachers, who must be certified by the company before teaching on the platform. Students typically schedule classes three times per week by arranging appointments in advance with an available teacher. After making an appointment, the teacher will review the student's recent progress and classwork before class. Vipkid currently has approximately 1,000 teachers, more than 4,000 paying students, and a student continuance rate above 80%.
Vipkid received USD 5 mln Series A funding in October 2014, led by Matrix Partners China, with participation by Innovation Works and Sequoia Capital. The company received RMB 3 mln angel investment from Innovation Works in December 2013.
Keywords: Dami Technology Vipkid online education language learning Internet funding Matrix Partners Northern Light Venture Capital Series B Sequoia Capital Innovation Works VC
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