The Beijing News, 7/26/17
Shanghai-based Liulishuo Information Technology, operator of mobile spoken English learning app Yingyu Liulishuo (literally "Speak Fluent English"), announced today the completion of nearly USD 100 mln in Series C funding, jointly led by China Media Capital (CMC) and Wu Capital. Earlier investors also participated in this round, including Trust Bridge Partners, IDG Capital Partners, Granite Global Ventures, Cherubic Ventures, and Hearst Capital.
Liulishuo, which began operation in 2012, offers English learning materials and professional speaking training courses via the Yingyu Liulishuo app. As of early July, the app had more than 45 mln registered users.
Liulishuo launched an artificial intelligence (AI) English teacher in July 2016, and incorporated customized interactive courses using the AI teacher in its flagship mobile app. In the year since its launch, the AI teacher has accumulated nearly 600,000 paid users, allowing Liulishuo to achieve profitability in February 2017.
Liulishuo has also formed a strategic partnership with K-12 after-school tutoring services provider TAL Education Group (NYSE: TAL), to offer its spoken English testing technology on TAL's platforms.