Shanghai-based Fengchuang Information Consulting, operator of online and mobile education platform Hyphen, recently announced completion of USD 8-digit Series C funding from K-12 after-school tutoring services provider TAL Education Group (NYSE: TAL) and Source Code Capital. The company previously completed RMB 8-digit Series B funding in July 2017.
Following the funding round, Fengchuang will continue to invest in technology and education research and strengthen its "smart education + real instructor" dual-engine educational system.
Fengchuang, established in 2010, initially offered offline independent school admissions consulting services prior to 2014. After switching to an online model in 2014, it launched its self-developed online education platform in July 2015.
According to data from Fengchuang, users of its Hyphen platform grew by more than 50% in 2017 and registered users reached more than 4 mln. Peak daily users attending classes on the platform reached nearly 100,000 users, and the platform's user retention rate is above 80%. Over the past four years, Fengchuang has invested more than RMB 100 mln in education and technology development.
Fengchuang also encourages parents to be present while their child is taking classes through the platform. The platform also monitors instructors' teaching activity and offers course review functions for parents.
Editor's Note: For more information on this topic, please see Online Education Platform 'Hyphen' Secures RMB 8-digit Series B, MD 7/17/17 issue.